Chicago ShopperTrak’s retail traffic index reported that total U.S. foot traffic for the week ending Jan. 3 was flat compared to the same period in 2007. Meanwhile, the company’s retail sales estimate (NRSE) reported a steady 11.6% retail sales increase for the week.
Following the significant traffic declines seen throughout the holiday season, last week’s flat year-over-year performance suggests consumers visited various retail locations to take advantage of post-holiday promotions and redeem gift cards. On a weekly level, traffic declined significantly, returning to more seasonal levels following the annually strong Christmas week shopping rush.
Traffic for the week ending Jan. 3 compared to the previous week ending Dec. 27 fell 26.3%.
ShopperTrak’s NRSE reported strong year-over-year sales for the week ending Jan. 3 as the 2008 calendar shift – which most likely allowed more consumers to take the week off – and post-holiday sales drove spending.
Week-over-week retail sales showed the expected drop seen as the holiday shopping season comes to a close. Sales for the week ending Jan. 3 compared to the previous week ending Dec. 27 fell 34.2%.