Retailers adapt to overheated customers
August traffic figures show fall in customers
September 2 2003
UK shopper numbers fell overall in August at the heatwave kept consumers away from the high streets, according to the latest traffic figures from SPSL.
However, a recovery towards the end of the month is evidence that retailers were able to adapt their offer to tempt customers back into stores.
The Retail Traffic Index show that after the strong month-on-month growth of July, up 12.6 per cent on June, August’s heatwave led to a fall of 6.7 per cent month-on-month, and 3.9 per cent year-on-year. Most of the effect was felt in London and the south east, with other areas escaping the worst of the downturn.
Dr Tim Denison, director of knowledge management at SPSL said: “Shopper numbers for August never fully recovered from the record temperatures in the first two weeks of the month that left many stores devoid of customers.
“However, the August figures are not as bad as many had expected, given the desperate start to the month. The British public understandably made the most of the heatwave when it was with us, but the concomitant drop in retail traffic was not symptomatic of a dive in long term consumer confidence or activity.
“Stronger figures for the rest of the month are evidence that retailers are continuing to respond with ever more sophistication to reluctant shoppers.
“The fact that consumers are still prepared to buy on credit and extend their personal borrowings is testament to their high ongoing confidence. While commentators are asking when will it end, consumers seem, as yet, unconcerned as we approach quarter four of 2003.”
