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1 +44 (0) FOOTFALL: GLOBAL SHOPPER TRENDS REPORT Bringing you the latest consumer behaviour trends throughout the globe Q1 2015

2 intro Welcome to FootFall s brand new Global Shopper Trends Report. Overall global footfall performance Year-on-Year was +0.1%. APAC We ve expanded our popular EuroShopper Trends Report to bring you unique consumer activity insights across the world. United Kingdom Australia Over the past quarter, both Europe and the Asia-Pacific region have enjoyed a strong performance, as recovery from financial austerity begins to be felt internationally. Ireland and India in particular are racing ahead, securing their position among the world s fastest-growing economies. The overall European retail footfall winner in Q was Austria, which saw a significant increase in consumer activity. Australia, Spain and Portugal also performed well the latter two posting a particularly impressive result considering the severity in the Eurozone s economic difficulties last year. EUROPE Portugal Spain Poland Switzerland Italy Ireland +0.1% Germany France China Austria Hong Kong India Japan 02

3 Challenging regions At the other end of the scale, Hong Kong s sluggish tourism sector is beginning to impact domestic retail traffic figures. Meanwhile the UK is not managing to convert economic aggression into purchasing power. France s footfall also suffered heavily during the quarter, although the spending levels of those who did go shopping managed to save the country s retail sales figures. 03

4 europe Europe Europe overall performance Year-on-Year was +0.6% Europe started the year on a positive note, posting a +0.6% increase in retail traffic across the continent. All three strong performing regions in Q Austria, Ireland and Spain continued in the same form during the first quarter of 2015, posting +2.7%, +2.4% and +1.5% Year-on-Year footfall gains respectively. +2.7% Year-on-Year gain for Austria 04

5 Europe In Austria, strong footfall results were matched by impressive retail sales during the quarter. +2.7%* AUSTRIA Austria has performed consistently well over the past 12 months, having weathered economic austerity much better than several of its Eurozone counterparts. Austria now has the second highest per capita income in Europe, which means consumers have more disposable cash in their pockets welcome news for retailers and shopping centres! +2.4%* 2nd highest per capita income in Europe Ireland, meanwhile, was in a positive state of mind throughout Q1. The country secured the title of Europe s fastest growing economy, which in turn boosted both consumer confidence and retail traffic. The European Union has revealed that an export boom in Dublin is one of the main reasons behind Ireland s impressive performance, and that this economic strength will continue; Ireland s GDP growth is predicted to outstrip nearest rival the UK this year. IRELAND Europe s fastest growing economy * footfall Year-on-Year 05

6 Europe Spanish footfall up by 1.5% +1.5%* SPAIN SPAIN In Spain, economic growth has been forecasted to reach +2.8% this year, which is double the rate of improvement last year. Economic growth doubled This has boosted both consumer confidence and shopper traffic, but unfortunately has not translated browsing into buying; 2015 retail sales figures were down on both January and February. Three further European regions posted positive results, the first of which was Italy. After suffering its worst recession since World War II, last year the country shows signs of recovering, with Year-on- Year footfall up +1.6% during Q Although fragile, unexpected increases in both consumer confidence and retail sales point to better times ahead for the Italian retail sector. ITALY +1.6%* * footfall Year-on-Year 06

7 Europe The final countries to boost their performance were Poland and Portugal. Retail traffic in Portugal and Poland improved by +0.3% Unexpectedly, Poland managed to turn PL around its fortunes after languishing at the bottom of the footfall league tables throughout last year to improve retail traffic by +0.3.%. Although a small gain, it is very significant for a country which endured tough times in 2014 and predictions that retail investment will reach 1 billion in 2015 shows this is the start of better things to come. Portugal also posted a +0.3% footfall gain PT during Q1 2015, bouncing back from a consumer activity decline, although not as severe as Poland. Improving employment figures boosted both consumer confidence and retail sales, driven in part by stabilising inflation, keeping prices consistent. At the other end of the scale, four regions saw DE their quarterly footfall figures decline at the start of the year, starting with Germany. After struggling with economic stagnation during 2014, the country s difficulties continue into 2015, with Year-on-Year footfall slipping -0.5%. Although the Ifo Institute for Economic Research has predicted a strong upswing for Germany s economy, thanks to falling oil prices and depreciation of the Euro, it seems this change of fortunes is yet to be felt by the general public. Surprisingly, the UK also recorded a GB disappointing result this past quarter, with annual footfall decreasing -0.8%, despite being seen by many as the economic recovery pacesetter within Europe. As earlier figures show, Ireland is set to overtake its neighbour in the growth stakes. A bumper Christmas led many consumers to reign back their spending during January; consumer confidence and retail sales were in the negative. However, the good news for UK businesses is that both indicators picked up in March pointing towards a return to improvement. EUROPE Portugal Poland Italy Spain Ireland Switzerland Germany United Kingdom France 07

8 In the UK for the for the first quarter of 2015 we ve seen a small decline in shopper numbers against the same time in 2014, although consumer confidence and retail sales have been relatively strong. This reduction in shoppers was more pronounced towards the end of the quarter where, with some schools on Easter holidays, perhaps families found other outdoor activities more appealing in the comparatively warmer weather in late March. Steve Richardson Regional Director for the UK and Ireland 08

9 Europe In Switzerland footfall was down on the same quarter last year A dramatic change in fortunes for Switzerland at the end of 2014 it dropped from strongest performing region in Q3 into the negative in Q4 continued into Q1 2015, with footfall -0.9% down on the same period last year The strong Franc is affecting consumer spending, and naturally retail traffic followed suit. Switzerland consumer confidence remains positive France The biggest losing region in the first quarter of the year, however, was France, where consumer activity dipped -1.1%. Not all retail businesses are feeling disheartened though; the grocery sector seems to be defying lower footfall levels, with both Casino and Carrefour reporting increased profits. In fact, across the board, retail sales and consumer confidence remains positive, demonstrating that those who do venture out to the shops are still keen to make purchases. FRANCE 09

10 Asia Asia-Pacific APAC overall performance Year-on-Year was -0.7% Although Asia-Pacific as a region saw consumer activity drop by -0.7% in the first quarter of 2015, there were some strong individual performances. Japan and Australia were the major winners; Japan posted a +3.4% improvement in consumer activity, while Australia recorded a +0.6% increase in retail traffic over three months. +3.4% improvement in Japanese consumer activity 10

11 Buoyed by record low interest rates, a flat unemployment rate and increasing consumer confidence, in Australia the increase in retail footfall comes as no surprise. Unseasonably warm weather along the eastern seaboard in particular, drew shoppers into stores post-christmas. Although this didn t translate into a significant increase in retail sales, there is cause for optimism. Historically the federal budget announcement, which takes place in May, has resulted in a sharp decline in footfall. However this traditionally only lasts for 2 3 weeks prior to people making their way back into stores. Adam Ioakim Regional Director for Australia and New Zealand 11

12 Asia-Pacific Japan emerged from recession at the end of A two-year programme of quantitative easing is finally starting to show in both GDP growth and footfall figures. Gradual 3.29% cut in corporate tax rate will support further economic recovery Improvements in both the labour market and wages have stimulated retail activity, which climbed Month-on-Month during the quarter rising a massive +27.9% between February and March. However, it s not all good news for Japan poor growth in China has hurt the country s export market, although the impact has been somewhat offset by improvements in trading with the USA and Europe. +3.4%* JAPAN * footfall Year-on-Year 12

13 Asia-Pacific Australia unemployment dropped 6.1% in March Unemployment fell 6.1% In Australia, one of the most significant drivers behind the +0.6% footfall increase is falling unemployment, which dropped 6.1% in March alone, boosting consumer confidence and the number of people with a disposable income in the process. AUSTRALIA This, combined with the recent rescinding of penalty rates on employees working weekends in South Australia, should encourage retailers to open longer and capitalise on the current good mood. +0.6%* A word of caution, though. Retail businesses may be feeling buoyed by recent consumer confidence, but analyst IGD has warned that intensifying competition in the grocery market in particular could lead to a price war, which would impact vendors profit margins despite increasing sales figures. * footfall Year-on-Year 13

14 Asia-Pacific Another region faring well during the opening quarter was India India saw a +0.1% rise in footfall. +0.1%* INDIA Domestic retail sales fell in January and flatlined in February, whilst the country is becoming concerned that its oncestrong luxury shopping market is now failing to attract sufficient tourists. Political unrest and cross-border tensions have been blamed for the slump, which saw Chinese tourism levels fall 80% during March alone. More than 10,000 stores, tourist attractions and eateries have agreed to launch a series of promotions, in a bid to reverse this decline in retail traffic. Although not as strong as Australia, its performance is indicative of the increasing consumer spending power the country is gathering; in a recent budget speech, Finance Minister, Arun Jaitley, revealed that India now has the world s fastest growing economy. It also comes as welcome news to industry experts, who feared unseasonal rainfall could accelerate inflation, which would impact consumer spending. The main region which experienced a downturn in fortunes during Q1 was Hong Kong, where consumer activity slipped by -0.2% Year-on-Year. HONG KONG -0.2%* * footfall Year-on-Year 14

15 Whilst there is some variable performance across the countries for Q1 2015, this is not necessarily cause for concern. Footfall is a powerful metric; however in this multi-channel landscape there are a number of other factors which can also influence this performance. How retailers adapt to this changing landscape will dictate their success. Dave Sheppard Global Head of Consulting Services 15

16 About the Global Shopper Trends Report All retail traffic figures used in this report are original insights from FootFall, the leading global retail intelligence service. We believe it is not enough to understand consumer trends, but acting on that insight to deliver rapid and measurable return on investment. To find out more about how economic, social, cultural and political events are impacting your region, visit our online trends centre. This hub includes FootFall s Global Retail Traffic Index, which provides a barometer of international shopper confidence. We also offer the technology and consultancy to help retailers and shopping centres unlock the potential revealed in this data. We ll support you with recommendations and action plans for tangible performance improvement, from pilot project through to full retail intelligence solution deployment. To find out how FootFall can improve your profits visit or contact our global consultancy team on

Q Bringing you the latest consumer behaviour trends across the globe

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