Feb 22 2025 12 mins 3
Diane Wehrle CEO at Rendle Intelligence and Insights joins Simon for their monthly chat about footfall trends and shopping behaviours
As the economic landscape shifts, we explore the paradox of increasing footfall yet declining sales in retail. With consumer confidence waning amidst inflation concerns and upcoming wage increases, businesses must adapt creatively to thrive in uncertainty
• Retail footfall rises by 6.6%, but sales fall by 3.2%
• Consumer confidence drops to minus 22 index score
• Inflation currently at 3%, affecting food and hospitality sectors
• Anticipated increases in National Insurance could impact businesses
• Average transaction values rise despite lower foot traffic
• Focus on innovation over cost-cutting for retail success
• February typically a slow month; preparing for changes needed
• The importance of retaining loyal customers emphasized
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