Retail traffic building to last minute rush
SPSL figures show week-on-week burst
December 23 2003
The latest figures from the Retail Traffic Index today suggest that a last minute shopping rush is beginning to materialise.
On Sunday December 21 and Monday December 22, the index showed shopper numbers were up 1.0 per cent and 0.5 per cent
respectively on last year’s Sunday and Monday before Christmas and up 1.4 per cent and an impressive 28.8 per cent respectively on the previous week.
The figures follow disappointing results from the previous week, when shopper numbers for the week starting December 14 were down 2 per cent on the same week last year, which was below the SPSL forecast of -1.3 per cent. It was still by far and away the busiest week of 2003, up 12.7 per cent on the previous week.
Dr Tim Denison, director of knowledge management at index compiler SPSL, said: “Yet again poor weather, on Saturday 20th – a key trading day of the year – has not treated retailers kindly.
“No doubt many shoppers chose to delay trips, safe in the knowledge that there were still another four full days left to shop. The evidence is that they are now making up for lost time. Sunday and Monday were both up on last year and with shopper numbers on Monday 21 up by 28.8 per cent on the previous Monday it shows that the final surge is here.
“Retailers in many sectors had already decided to introduce selective price promotions in their run-up to Christmas. Whilst some commentators have viewed this as a panic measure, people forget that last year the last minute rush actually failed to live up to expectations.
“Mindful of that, this time around, retailers have been monitoring their performances on a daily basis and changing strategy where needed. Many have sensibly brought in selective promotions geared at encouraging shoppers into their stores and letting the broader offer stimulate sales. The arrival of the rush will therefore be viewed as a bonus.
“Interestingly, we are seeing some anecdotal evidence of more women shopping in the final few days than we would normally expect. Traditionally we are now into the ‘men on a mission’ period, where lack of planning, machismo, laziness and time pressure means that men are hunting down essential gift purchases. Invariably they tend to spend more as panic sets in.
“This year, perhaps tempted by the selective deep-cut promotions, there seem to be more women shoppers clutching high-ticket items than we might expect. Though more women are engaged in full-time employment than ever before, we believe the reason for their numbers is more to do with their astuteness, capitalising on the last-minute offers and capturing bargains, to supplement existing purchases, rather than following the last-minute lead of men.
“It would be wrong to say that shopper numbers have not been a little disappointing over the last couple of weeks, but the fact is that 2003 is tracking 2002 very closely and shops are trading steadily. Our data shows categorically that there is no evidence of a Christmas meltdown, as predicted elsewhere.
“SPSL is still holding by its original forecast that shopper numbers in December overall will be marginally up on last year. With one extra day before Christmas this year compared to last, we are still fully expecting to see retail traffic up 1.4 per cent on Christmas week last year.“
