RETAIL EYE - TRENDS IN RETAIL AND POS

Every month we capture what is happening in retail – understanding key themes and trends for POS.  This snapshot guide helps to bring the high street to your desk monthly.

FOOTFALL

According to British Retail Consortium-Sensormatic IQ data, total UK footfall decreased by 6.2% in February year on year (YoY), down from -2.8% in January.* Retail was hit by one of the wettest Februarys on record, along with train strikes at the beginning of the month. High streets were the most affected, with footfall dropping by 9.9% YoY, down from a 2.3% drop in January.*

VALENTINE’S DAY

Love was in the air across the grocers and high street as retailers and brands tempted shoppers to treat their loved ones. This year, high prices mean the Valentine’s Day market is set to grow 4% to £1.3bn in the UK**, with 40% of shoppers planning to spend on romantic meals at home, flowers, chocolates and cards. According to Kantar, in the seven days before the 14th      February, sales of steak and boxed chocolates rose by 12%       and 16% respectively when compared with last year.

If you are a brand or retailer and would like a full copy of the report, then please contact us at info@teamfero.com

*Covering the four weeks 28 January 2024 – 24 February 2024

**Savvy Shopper Panel, January 2024. A representative sample of 1,004 UK shoppers.