-- "Mall traffic for November 2010 has shown a steep rise recently, according to a report released today by Thomson Reuters. Using satellite images the firm is able to measure parking lot traffic, which correlates well with same-store sales.
“Based on this relationship, we may be seeing an early sign that stronger November 2010 mall traffic is pointing to stronger same-store sales,” wrote Thomson Reuters analyst Jharonne Martis-Olivo in the report. At 3.5%, the Thomson Reuters Same-Store Sales Index for November is significantly stronger than the 0.5% in November 2009 and the -7.8% for November 2008.
“Retailers seldom release average ticket prices, but the CPI was flat as of the Nov. 17, 2010 reading,” Martis-Olivo wrote. “Thus, if November mall parking lot traffic has been on the rise, while inflation remains unchanged, then there’s a pretty good chance that shopper conversion rates could be higher this year.”
HT: Norman Berger