Milton Keynes

Retail Spend Boost for Milton Keynes City Centre

Retail Spend Boost for Milton Keynes City Centre

Milton Keynes, UK – April 30, 2024 – MyMiltonKeynes, the City Centre’s Business Improvement District (BID), reports retail sales across the City Centre in March 2024, showcasing a robust 5.4% year-on-year increase, driven by a rise in customer numbers.

Data collected, capturing in-store debit card spend throughout the City Centre, reveals that monthly retail expenditure in March 2024 reached £30.9 million, up from £29.2 million during the same period last year. Year-to-date figures further illustrate a growth of 1.6%.

Milton Keynes’ performance stands in contrast to the national trend, which has witnessed only a moderate increase in March 2024 sales of 0.2%, with year-to-date sales down by 1.8%.

Customer numbers reached 373,000 in March, a 9% increase on the previous year. Notably, over half (53.1%) of sales originated from individuals outside the borough of Milton Keynes, an uplift of 2.2% from last year.

While the fashion sector led in terms of total sales, accounting for 30% of the overall figure, significant increases were observed in Health & Beauty, Grocery, and Food & Drink sectors, boasting year-on-year growth rates of 23.1%, 18.5%, and 9.8% respectively.

Jill Farnsworth, Chief Executive of MyMiltonKeynes, commented on the city’s remarkable success, stating, “A key highlight of Milton Keynes’ success story is the significant uptick in foot traffic, particularly from outside the local area, reflecting the city’s undeniable appeal as a premier retail destination.”

“With over 200 retailers, a great mix of restaurants, cafes and bars, and every leisure activity you could possibly wish for – all easily accessible on foot, by car and train – it is not surprising people choose to spend here,” Farnsworth added. “As consumer confidence grows, we look forward to continued growth for city centre businesses.”

MyMiltonKeynes collaborates with Beauclair, which records offline transactions from over 11 million debit card accounts, geo-tagging each transaction to track merchant location and retail sector.

For further information about MyMiltonKeynes, please visit www.mymiltonkeynes.co.uk and stay updated with the latest information by following @MyMiltonKeynes on Facebook, Instagram, TikTok, and LinkedIn.

 

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