Summary

• Sales in the King’s Road area dropped -8% between June and July. Looking at July 2023 compared to July 2022, sales were also down by -8%. On a Year-to-Date (YTD) basis sales are down -3%, which is weaker than its comparators.
• Most of the annual decline in sales from July 2022 to July 2023 was driven by a decline in customers with just a marginal decline in Average Revenue Per Customer (ARPC).
• All of the four of the largest retail sectors saw declines in sales compared to July 2022. Grocery (-37%) and Food & Drink (-14%) continued their decline, while Fashion (-1%) and Health and Beauty (-4%) held up better.
  Fashion and Food & Drink are continuing to show sales growth on a YTD basis (+6% and +5% respectively).
• The share of sales from Chelsea & Kensington in July 2023 was 30% compared to 27% in July 2022. This is consistent with the trend in 2023 of a marginal increase in the share of sales to locals.
• By contrast the share of sales to customer from Rest of GB fell from 36% to 34% over the same time period.

See the latest report here.