What a difference a year (or a month) makes
July 2022 saw the UK reach record high temperatures (40.3 Celsius on 19th July 2022 in Lincolnshire – MetOffice.gov.uk), whereas July 2023 was one of the wettest (6th wettest July on record; wettest since 2009 – MetOffice.gov.uk). June 2023 was also the warmest June on record (MetOffice.gov.uk).
With this context, it is no surprise that the strong growth across all our metrics in June 2023, was somewhat reduced in July. Nevertheless, our cities saw similar volumes of customers to July 2022 and spend was up 2% on the same time last year.
Movement across sectors
Whilst growth was less than in June, there were some differences across our Top 5 Sectors. Fashion saw a decline in customers (-3%) and spend (-1%) compared to July, with Grocery down -6% and -5% for customers and spend respectively. The wet weather must have played a part in cancelling planned summer parties/barbeques?
Fashion ATV was only 3p down on July 2022, but was down £6 per transaction in a month (£33.56 from £39.58 in June 2023).
General Retail was the big sector winner in July 2023
General Retail, which has suffered with the loss of brands like Debenhams in recent times, saw impressive +7% growth in both customers and spend this month compared to the same month last year.
Food & Drink was up +5% on spend, people deciding to eat out, rather than risk a soggy garden party…
Year to Date we are still on course to beat 2022
Despite the slight setback in July, 2023 is looking good across all our metrics and we are looking at +4% growth on average across customers, spend and ATV against YTD 2022.
Overall, the outlook across our 62 City Centres is positive, especially footfall, which is +4% up YTD.
Health & Beauty in double-digit spend growth YTD
Health & Beauty spend has has grown by more than 10% YTD, compared to the same period last year and it has the second highest ATV (£23.94 for July 2023; £23.77 YTD 2023).
It has overtaken General Retail in terms of spend and is 4th overall, behind Food & Drink, Fashion and Grocery, with 10% share of spend in the 5 Core Sectors.
