- Retail sales in King’s Road were down -7% from March 2022 to March 2023 and were down -13% compared to the same month in 2019. King’s Road’s sales performance was weaker than Marylebone, Sloane Square, and Knightsbridge.
- Customer numbers were down -14% on March 2019, although only down -2% on a year-on-year basis. Average Revenue Per Customer (ARPC) was down -5% against March 2022 but up +1% on March 2019.
- Of the five largest retail sectors, Fashion was the only sector to experience growth, with year-on-year sales up +2%, but they were down -3% compared to March 2019. General Retail experienced a decline in year-on-year sales down -1%, with year-on 2019 sales down -24%.
- Food & Drink, Grocery and Household sales continued to perform weakly year-on-year with Food & Drink being down -15%, Grocery being down -32%and Household sales down -9% in March 2023 compared to March 2022.
- There has been localisation of sales since March 2019, with the share of sales to customers from Chelsea & Kensington increasing from 25% to 28% and the share of sales to customers from the Rest of GB decreasing from 38% to 34%.
Find the full report here.