Bricks-and-mortar retailers see spike in foot traffic

Campbelltown MallBricks-and-mortar only retailers have shown a sharp rise in optimism driven by a spike in foot traffic, according to the latest CommBank Retail Insights report.

34 per cent of physical only retailers has adopted a positive outlook for the future – double the number from six months ago.

The research shows 41 per cent of those surveyed predict an improvement in business conditions in the year ahead – the highest proportion since the survey began in 2015.

“It’s encouraging to see retailers’ view on future conditions surpassing previous highs seen in our first analysis of the sector in 2015,” said Jerry Macey, National Manager of Retail at Commonwealth Bank.

“We have seen bricks-and-mortar retailers emerge strongly from a period of subdued optimism as they report an upswing in customers coming through their doors in the year to date.”

76 per cent of retailers forecast stronger revenue, with 43 per cent anticipating growth of 6 per cent or more.

Retailers predict the steady growth of online sales to continue with a 20 per cent increase in the year ahead, looking to represent 31 per cent of all sales volume.

 

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.