Based on Beauclair Data across the largest 62 Cities and Towns nationwide.
- Customers & retail spend both up, but growth slower than YTD picture.
- Across our 62 Cities, customers were up +3% and sales up +3% versus September 2022, and 4/5 top sectors saw customers and sales growth. A strong performance but lagging the YTD figures of +4% customer growth and +5% sales growth.
2. Heath & Beauty and General Retail momentum continues
- Healthy and Beauty grew +8% sales and +5% customers, ahead of a strong YTD performance. This sector includes H&B product sales but also salons & gyms, experiential activities that help drive people into high streets.
- General Retail saw customers +7% and spend up by +8%, just behind YTD performance. Has it exited the turmoil and closures of the last few years with a smaller but stronger sector?
3. Fashion has a poor month, customer and sales down, hit by warm weather.
- Customers down -1.6% and sales down -1.1% with ATV also in decline.
- Helen Dickinson OBE, CEO of the BRC was quoted as saying “The Indian summer also meant sales of autumnal clothing, knitwear and coats, have yet to materialise”.
- YTD Fashion is however still growing against all measures.
4. Food & Drink & Grocery see strong Sept sales growth, but more muted customer growth.
- After two months of sales and customer decline, Grocery sales were up +4% and customers up +2%, stronger than YTD picture of +1% customer growth and +3% sales.
- Food & Drink saw strong +7% sales growth but customers up just +2%.
5. Strong growth momentum coupled with falling inflation could present an opportunity.
- Despite complex dynamics that could change the future, there is strong 2023 YTD growth momentum across all measures and the top 5 largest sectors going into retail’s “Golden Quarter”.
- Rates of inflation look to have peaked and sluggish UK growth has led some to predict a hold in interest rate rises in November, both of which could potentially give consumers more buying power.