The latest Retail Traffic Index (RTI) figures from research group SPSL, show that September shopper numbers were down by 0.5% against the sam month of 2006 and down by 8.9% compared with figures from August this year. The topsyturvy retail year continued with the Q3 overall figur showing no change against last year, following a rise of 2.2% in Q2 an a fall of 0.9% in Q1.
According to Dr. Tim Denison, Director of Knowledge Management at SPSL and leading retail psychologist; "I think many retail analysts will be forced to admit that shoppers have been more resilient for longer int this year than we had expected. That said, it's difficult to forecast anything other than a challenging next quarter for the retail industry.
"Our data strongly suggest that the gap in the number of shopping trips being made to non-food outlets over the remainder of 2007 versus 2006 will worsen progressively by 0.5% each month, leading to a 2% year-on-year fall in December. Despite this bad news for retailers, the expected decline in shopper visits will actually be less than it was in Q4 2006 compared with Q4 2005 (down 3.1% then). However, it will come at a time when many retailers are feeling the strain of a particularly difficult trading year.
"It should be remembered that this time last year the talk was all about the tightening credit squeeze on consumers and the growing insolvency levels. Twelve months on and the topics occupying the thoughts of economists and city analysts are still much the same".
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