So the first quarter is over and now the counting can begin. There is some relatively good news. The significant downturn we have seen in January and February seems to be easing for March.
While total ticket sales - transactions are down still - the drop is not nearly as significant as we have seen earlier. Further with Easter occurring in March last year and much later this year - we have some hope for a lessening crisis.
However there are still some things we need to watch out for.
1. Average transaction value is still down
2. Premium traffic is still down
3. Certain markets are harder hit than others.
Once we get a view of the ATA numbers we can start to see if there is indeed a slowing of the downward curve. I am still sticking to my predictions of a 10-15% drop in traffic for the whole year.
Q1 down 3 more to go.
Cheers
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