- Retail sales in King’s Road remained moderately stable being down -1% from February 2022 to February 2023 and were down -9% compared to the same month in 2019. King’s Road’s year-on-year sales performance was weaker than Marylebone and Sloane Square, however sales relative to February 2022 were stronger than Knightsbridge.
- Both Average Revenue Per Customer (ARPC) and Customer numbers remained stable on a year-on-year basis. On a year-on-2019 basis, while customer levels were down -12%, ARPC was up +3%.
- Of the five largest retail sectors, General Retail had the highest increase in year-on-year sales up +88% and also up +40% compared to February 2019. Fashion also had a substantial increase in year-on-year sales up +14% and with year-on-2019 sales up +5%.
- Food & Drink and Grocery sales continued to perform weakly year-on-year with Food & Drink being down -9% and Grocery being down -72%. Grocery sales were also down year-on-2019 by -79% with Food & Drink sales being down -3%. Household sales were down -5% in February 2023 compared to February 2022 but were equal to Household sales in February 2019.
- The share of sales to customers from the majority of origins remained fairly stable compared to the previous year. Meanwhile, the share of sales to customers from Greater London area rose from 5% in February 2022 to 8% in February 2023.
See the full report here.