- Retail sales in Knightsbridge decreased by -5% from March 2022 to March 2023, but were up +9% over March 2019.
- Ramadan occurred from Evening of Fri, Apr 1, 2022 – Evening of Sun, May 1, 2022 compared to Evening of Wed, Mar 22, 2023 – Evening of Fri, Apr 21, 2023.
- The year-on-year performance was substantially behind Marylebone and Sloane Square but above King’s Road, although compared to March 2019 Knightsbridge had the strongest performance.
- The decrease in year-on-year sales continued despite a +8% increase in customers, with a significant drop in Average Revenue Per Customer (ARPC) of -12%.
- Of the major sectors, Fashion sales had the largest growth, up +71% year-on-year, and up +129% on a year-on-2019 basis.
- General Retail and Food & Drink sales decreased compared to March 2022. General Retail sales decreased by -13% on a year-on-year basis however, its year-on-2019 performance was up +3%. Food & Drink decreased by -5% on a year-on year basis and was down -15% compared to March 2019.
- There were some significant year-on-year changes in the share of sales to customers from different catchment areas:
- Rest of GB fell from 59% to 52% and Chelsea & Kensington decreased from 22% to 12%. Meanwhile Greater London rose from 4% to 11% and South London rose from 5% to 10%.
See the full report here.