RETAIL EYE - TRENDS IN RETAIL AND POS

Every month we capture what is happening in retail – understanding key themes and trends for POS.  This snapshot guide helps to bring the high street to your desk monthly.

FOOTFALL

Total retail footfall in the UK dropped by 1.6% last month on a year-on-year (YoY) basis.* The decrease is below July 2023’s figure of +1.8%.* During the month, footfall on high streets decreased by 0.9% YoY, a fall from +1.6% in the prior month.* It would appear the wet weather through August had an impact on sales, particularly as the data is a comparison to last year's heatwave which encouraged shoppers to buy clothing, BBQs and other outdoor essentials.

BACK TO SCHOOL

According to Mintel, Brits spend £1.2 billion sending kids back to school. This makes back-to-school spending the third biggest retail spending event (excluding food/drink), after Christmas and Black Friday. However, recent research by Deloitte highlights spend is likely to reduce due to the on-going cost of living crisis. Shoppers are expected to seek discounted uniforms and equipment to cut costs as well as turning to second-hand products.

For a full copy of the report contact info@teamfero.com.  

* British Retail Consortium and Sensormatic IQ.