- Retail sales in Knightsbridge decreased by -4% from February 2022 to February 2023, but were up +5% compared to
February 2019. The year-on-year performance was substantially behind Marylebone, Sloane Square and King’s Road.
- The decrease in year-on-year sales came despite a +15% increase in customers, with a significant drop in Average
Revenue Per Customer (ARPC) of -16%. By contrast, while customer levels between 2019 and 2022 have remained fairly
consistent, ARPC was up +6%, leading to year-on-2019 sales growth. APRC thus seems to be a more significant driver
of sales than customer numbers.
- Of the major sectors, Grocery sales had the largest growth, up +86% year-on-year, and up +8% on a year-on-2019 basis.
Fashion sales rose by a substantial +67% from February 2022 to February 2023 and the year-on-2019 performance was
also up by +127%.
- General Retail and Food & Drink sales decreased compared to February 2022. General Retail sales decreased by -12%
on a year-on-year basis and its year-on-2019 performance was down -3%. Food & Drink decreased by -10% on a year on-
year basis and was down -11% compared to February 2019.
- The share of year-on-year sales to customers from Rest of GB fell, from 67% in February 2022 to 61% in February 2023.
The share of customers from Chelsea & Kensington also decreased year-on-year from 16% to 12%. Meanwhile the share
of customers from West London continued to rise from 4% in February 2022 to 7% in February 2023.
See the full report here.