October was ?wretched month? for retail - ToyNews

October was ?wretched month? for retail

Figures from the Retail Traffic Index show a year-on-year drop of 3.1 per cent for the last month
Author:
Publish date:
5_Pocoyo.jpg

Whilst shopping numbers have to date remained buoyant amidst the current global credit crunch, recent statistics from the Retail Traffic Index make for sombre reading for retail, with a 3.1 per cent year-on-year drop in shopping trips reported.

The numbers were also 1.3 per cent down on September.

Dr Tim Denison of Synovate Retail Performance, which is publishing the RTI figures for the first time, stated: “The figures were slightly worse than our projected year-on-year drop of 2.9 per cent, and signal a wretched month for retailers all across the country.

“This is the first month since November 2006 that all regions across the UK have registered a year-on-year decline. Shopper numbers in London and the South East fell by three per cent against last October, the weakest performance of the year for the region, no doubt affected by the turndown in the service sector.

“The accumulation of bad-news stories over the course of the month, from the widening exposure and realisation of the financial market turmoil to growing concerns over job security appears to have had an impact on the High Street in October, rocking confidence and shopping patterns.

“Many people have now broken their old comfortable and familiar routines to start trialling the discount supermarkets, but have come to realise that they cannot rely on them entirely for the full weekly shop. Where ‘one stop’ shopping used to serve us well, providing the convenience that we all craved, the downturn has introduced austerity, selectivity and preparedness to invest more time and effort in shopping.”

Related

5_Pocoyo.jpg

Shopper levels rise

Retail Traffic Index figures confirm footfall was up year-on-year during Christmas week and in the post-Christmas sales period.

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.