RetailNext’s Composite Index report for July is out, and the numbers continue to show a strong improvement in sales per shopper (SPS)—a positive sign for retailers nationwide.
Shoppers’ spend per trip is helping retailers offset the damage of a continuing decrease in Traffic, which repeated its downward trend this year with July off 7.8 percent from the year prior.
Some retailers are blaming their woes on a “retail funk,” and traffic and sales numbers are down, in general, for brick-and-mortar stores. But traffic does represent an opportunity, and retailers have seen considerable growth in average transaction values (ATV) and SPS since the winter, showing retailers that shoppers will spend if provided a proper value and shopping experience.
While trending in the same direction, a closer look shows many regional differences among retailers in the United States. The South rose again, presenting essentially flat sales despite a decrease in traffic of 5.7 percent, thanks to an increase in ATV of a whopping 12.9 percent.
Data drives decisions
As retailers execute on an ever-important Back-to-School season and prepare for the crucial holiday time period, data becomes paramount in the development of effective plans. The RetailNext Composite Index is published monthly and provides retailers, analysts and other stakeholders a macro-level check of industry performance.
For the July Composite Index, RetailNext analyzed over 13 million shopping trips in data sets across specialty and larger format retail stores in the continental U.S. The month was defined according to a fiscal 4-5-4 retail calendar:
- July 2013: July 7 through August 3, 2013
- July 2014: July 6 through August 2, 2014
Be sure to access your free RetailNext Composite index here.
Join the #retail conversation at @RetailNext and www.facebook.com/retailnext.