Retail Footfall Tracks Last Year, But Strongly Up Week on Week
The latest Retail Traffic Index (RTI) figures from research group SPSL show that UK retail footfall in the first week proper of Christmas shopping (Sunday 25th November to Saturday 1st December) closely tracked last year’s (Sunday 26th November 2006 to Saturday 2nd December 2006), being up just 0.01%. However, to demonstrate that Christmas shopping has really started at last, the number of people out shopping was up 11.2% week on week.
SPSL’s retail psychologist, Dr Tim Denison, commented; “Once again these figures are slightly better than we had expected. Admittedly the week came at exactly the right time for most people’s salaries to hit their bank accounts but there does seem to be a growing attitude amongst consumers that all the negative pressures can be ignored until the New Year, when they may be forced to cut their shopping trips.
“It’s not just about consumer attitudes,” adds Denison, “the stores have played a big part too. Those running discount voucher promotions such as Selfridges, Gap, Thresher and Borders and those offering money back vouchers such as Argos will have helped stimulate Christmas trade. Our opinion, based on a detailed analysis of more than a decade of footfall figures is that Christmas 2007 is shaping up to be fairly decent for retailers with the strong caveat that the New Year may well bring much harder times sans any interest rate relief from the MPC at the Bank of England.
“I suggest that one factor that may still come into play before Christmas, though, is if people start hitting their credit buffers, in the wake of financial providers tightening their reins. For some, Christmas shopping ambitions may be taken out of their hands this year.”
SPSL will be producing regular reports in the lead up to Christmas and in its aftermath. It is also inviting enquiries from media interested in exploring retail themes.
All enquiries for follow up or interviews with Dr Tim Denison should be directed to Theo Chalmers at Verve PR on 01908 275271 (weekdays) or 07932 004632.
SPSL would like to make it clear that the RTI is the only UK index that exclusively measures the number of shoppers actually entering stores (over 3,100 of them) as opposed to persons entering retail centres, where there may be stores as well as other non-retail premises and which may be accessed for a host of reasons other than in order to enter a store.
ABOUT SPSL
Established in 1989, retail research group SPSL is the largest European provider of proprietary tools for high accuracy customer traffic and behavioural analysis deployed by retailers. The company monitors more than 520 million visits to over3,100 retail premises per annum in the UK alone. Its customers include many of the retail industry’s most successful companies across all retail sectors except grocery, convenience and minor retail service sectors. SPSL is trusted by retailers to provide mission-critical Key Performance Indicators to measure customer volume, sales opportunities, conversion rates, staff stretch, promotional activity and in-store lay-outs. Its data features regularly in serious trade and consumer media and it exclusively provides the UK Retail Traffic Weather Map as seen in Retail Week and on the Retail Bulletin website. Director of SPSL, retail psychologist Dr. Tim Denison is a frequent and popular commentator on issues relating to shopping for national and regional broadcast, print and online media.
Using SPSL systems, retailers are able to reliably measure customer traffic flow on an ongoing hour-by-hour basis as well as determine in-store ‘weather’, assess the impact of marketing initiatives, and tailor staff levels according to customer demand rather than service supply. The company owes its unrivalled reputation and success on the accuracy, dependability and specialist nature of both its data and its support services. It runs its UK and European operations from its head office in Milton Keynes, England and invests heavily in developing advanced behavioural analysis and tracking tools to create ever more beneficial trading results for its customers and ever more enriched shopping experiences for theirs.
From 24th July 2006, SPSL has been appointed as sole official supplier of footfall data to the Greater London Authority (GLA) and Transport for London (TfL). The GLA has entrusted SPSL with this critical task in order to have a truly accurate measure of the impact of the existing Congestion Zone and the proposed Congestion Zone western extension on shopper numbers in central London. SPSL is proud to enter into this relationship with the GLA and to have demonstrated once again the superior accuracy, robustness and reliability of its data.
ABOUT THE KPMG/SPSL RETAIL THINK TANK
The RTT was founded by KPMG and SPSL in February 2006. It now meets quarterly to provide authoritative ‘thought leadership’ on matters affecting the retail industry. All outputs are consensual and arrived at by simple majority vote and moderated discussion. Quotes are individually credited. Releases and White Papers can be viewed by visiting www.retailthinktank.com
For PRODUCT information please contact:
DominicMcGuinness or Dr Tim Denison
SPSL
34 Walker Avenue
Wolverton Mill
MILTON KEYNES
MK12 5TW
Tel: +44( 0)1908 682700
Fax: +44( 0)1908 682739
website: www.customercounting.com
MEDIA enquiries to:
Theo Chalmers
Verve Public Relations
Park House, 8 Grove Ash
Mount Farm
MILTON KEYNES MK1 1BZ
Tel: +44( 0)1908 275271
Fax: +44( 0)1908 275272
