Newmarket continues strong sales growth

Wednesday, 21 December 2011

Newmarket continues strong sales growth

Newmarket Business Association Chief Executive, Ashley Church, says he is ‘encouraged but not surprised’ by new figures which further support a recent report showing strong growth in Newmarket sales activity and transaction volumes.

The latest report from independent research firm ‘Marketview’ measures transactions in the 3 month period between July 2011 and September 2011 and shows that Newmarket continues to defy market trends by showing very strong growth in both retail sales and numbers of transactions over that period.

The report shows that retail sales in Newmarket, during this latest period, are up 7.2%, or $9 million, over the same period in 2010. This is in contrast to a similar report, in 2010, which saw Newmarket sales figures dropping when compared to the 2008 to 2009 year.

The report also shows a dramatic 12.7% increase in the total number of transactions which took place in Newmarket in the period between July 2011 and September 2011 - when compared to the equivalent period in 2010.

Mr Church says that he is not particularly surprised by these latest figures which build on a similar report, released in November, showing growth in Newmarket in the 12 month period between July 2010 and June 2011. However, he says that these figures are more important because they cover a more recent and more tightly defined period of time, and because they represent a further significant increase in sales and transaction volumes.

“There’s now no doubt that this is a trend, rather than a blip, and that our strategy for Newmarket is working.”

Mr Church says that the new figures also coincide with new foot traffic information which the Association has recommenced measuring after a break since December 2009. The first such count, which will be taken monthly, measured foot traffic using the same times, dates and locations as the previous 2009 report and showed a staggering 20.2% increase in foot traffic over the comparable period.

Mr Church says that while it is too soon to tell if this is a trend it bodes well for Newmarket when considered against other trend data such as the Marketview report.

“There’s no doubt that Newmarket is back – and we’re looking forward to even stronger growth between October 2011 and December 2011. We await those figures with considerable interest.”

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