The latest edition of the RetailNext Retail Performance Pulse has been published and is available for download, providing an overview of brick-and-mortar store performance for the retail month of March 2019 (March 3 through April 6 on the industry’s 4-5-4 calendar).
After a Valentine’s Day-inspired bounce back in February, physical stores slumped in March, experiencing a year-over-year drop in sales of 7.5 percent on a 7.9 percent decline in foot traffic. Conversion also dipped for the first time in 2019, posting a 0.4 point decline, and contributed to a 10.5 percent decrease in transactions, the largest decrease since April 2017.
For the month, average transaction value (ATV) was up 3.3% and was responsible for the modest 0.5 percent increase in shopper yield/sales per shopper.
March showed variable performance each week throughout the month, with all metrics except for shopper traffic performing the best in the fourth week, as net sales, ATV, conversion and shopper yield were all positive year-over-year. Traffic performed best in the second two weeks of the month, at declines of only 4.6 percent and 3.8 percent respectively. Weeks 1 and 5, however, saw relatively major declines, as both traffic and net sales were at their lowest respectively.
Data from Planalytics shows March 2019 was the coldest in the United States since 2014, particularly earlier in the month in the West, Midwest and Northeast regions. Both the Northeast and West had relatively high levels of precipitation during the month as well. Performance-wise, the West region generally underperformed the other regions, and weighted downed the results nationally.
For a full reporting of physical store performance for the month of March 2019, please download your copy of the Retail Performance Pulse today.