June 2024 brought a significant setback for the U.K. retail sector as poor weather conditions deterred shoppers, resulting in a notable 1.2% drop in retail sales volumes. This decline starkly contrasted with the 2.9% increase witnessed in May 2024.
The year-over-year performance also saw a slight decline, with sales volumes falling by 0.2% compared to June 2023. Moreover, the figures were 1.3% below the pre-pandemic levels of February 2020, according to the Office for National Statistics (ONS).
Several factors have been cited by retailers for this downturn. Uncertainty surrounding the UK General Election on July 4th, adverse weather conditions, and reduced foot traffic have all played a role in dampening retail sales.
Despite these challenges, there was a silver lining in the form of consumer confidence. The GfK consumer confidence survey, released on July 19th, revealed that consumer sentiment in Britain inched up to its highest level since September 2021.
Amid this turbulent retail landscape, one segment has managed to stand out: Jisp powered stores. Contrary to the broader market trend, these stores experienced a rise in footfall during the June period. This increase in customer visits is a testament to the unique value proposition that Jisp, the award-winning retail technology company, offers, fostering customer loyalty.
Impressive Key Performance Indicators
Jisp powered stores reported impressive key performance indicators (KPIs) for June:
Shoppers: A year-over-year (YoY) increase of 17.13% and a month-over-month (MoM) rise of 5.38%.
Repeat Customers: A YoY surge of 26.34% and a MoM growth of 7.22%.
These numbers clearly demonstrate that Jisp’s strategy is not just about attracting customers but also about retaining them through superior service and engagement.
A bright spot in retail:
The rise in footfall at Jisp powered stores during a period of overall retail decline highlights the effectiveness of Jisp’s approach in creating a resilient retail environment. As traditional retailers grapple with fluctuating sales and external pressures, Jisp continues to demonstrate how technology and customer-centric strategies can drive performance and foster loyalty.
In conclusion, while June 2024 presented numerous challenges for the U.K. retail sector, the standout performance of Jisp powered stores offers a beacon of hope. By prioritizing customer engagement and loyalty, Jisp has not only weathered the storm but has also set a new benchmark for success in the retail industry.
