Recent figures released by Ipsos Retail Performance show that the Retail Traffic Index has grown by 7.3% in the last 3 months. The number of shoppers in non-food stores has increased by 1.2% in September – marking the first month in which footfall has risen.
The figures support Ernst & Young’s forecast because the Asda Income Tracker also showed that household spending power has increased for the 3rd consecutive month.
However, the number of retailers entering administration is still on the rise as a result of continuing low levels of demand and margin sacrifice. Furthermore, the number of store units in the UK run by multiples shrunk for the first time in history.