Summary

• Retail sales declined -10% in September 2023 compared to September 2022. All the comparators also declined, ranging from King’s Road at -6% to Sloane Square at -15%.
• The decline in sales was caused by similar trends to last month. A -21% fall in Average Revenue Per Customer (ARPC) offset a +14% growth in customers.
• On a Year-to-Date basis, Knightsbridge’s sales in 2023 remain +2% ahead of 2022, ahead of King’s Road, but behind Marylebone and Sloane Square.
• Of the three largest retail sectors, which account for over 90% of sales, Food & Drink saw sales growth of +30% compared to September 2022, while Fashion dropped -22% and General Retail saw -12%. On a YTD basis, Fashion and Food & Drink sales are above 2022, while General Retail is down -3%.
• Share of sales to customers from Rest Of GB dropped back from 72% in August 2023 to 67% in September, although this was up on 65% in September 2022.
• The share of sales to customers from Chelsea & Kensington was 13%, down 16% in September 2022.

See the latest report here.