Based on Beauclair Data across 62 City Centres nationwide.
- Customers & Retail Spend up in August 2023
- Post the wash-out July, consumers returned to City Centres in August, up +5% at a total level and driving with it a 5% increase in Customer Spend.
2. Average Transaction Value growth is behind that of Customers & Retail Spend.
- Transaction volumes ie the number of times people spend are up more than customers and spend, which is how growth in Average Transaction Value (AVT) ends up lower.
- This is likely impacted by increased ease and reduced spending limits for debit card tap and go transactions. And also by the cost of living crisis; people spending little and often vs splurging their pay checks in one go.
3. Pre-Holiday Fashion & Health & Beauty spend key driver of August spend.
- Average City Centre spend on Fashion & Health & Beauty in August was up +8% and +7% respectively. Customers were up +3% and +2%, as people got summer holiday ready!
- Food & Drink sales across the city centres were up 5% on average, with customer numbers +1%. ATV still in strong growth +5% here, with inflation pressures likely still playing a part.
4. Year-to-date 2023 continues to outpace 2022.
- Despite cost of living, inflation and even the weather, 2022 YTD spend across our 62 cities is up 6% on average, driven by +5% increase in customers. ATV is up 2% at a total level.
- Within the top 5 sectors the only negative YTD measure is General Retail ATV.
5. General Retail continues it’s recovery and momentum
- August was another great month for general retail on the High Street, with customers up +8% and Spend up 10%. YTD growth is also strong.
