Station to Station Area Spend Data from Mastercard, September 2022- September 2023
Mastercard data covering retail and hospitality spend along the Station to Station BID area high streets has indicated our retail sector has shown real resilience over the past year.
In September 2022, the retail sector had a significant drop when shops closed to mark the funeral of the Queen, but recovered to the previous month’s levels almost immediately after. The cost of living crisis does not seem to have badly impacted retail spending beyond September – spend levels increased through the autumn with a spike just before Christmas. Hospitality spend has shown a similar level of resilience, but was particularly high in Nov/Dec 2022.
In 2023, retail spend has continued to climb and has remained at a consistent level since May/June. Hospitality spend also saw a spike at the same time (late May/early June) and this overlaps with the ChooSE27 Festival series of events, the opening of Queen of the South, and a series of summer events in Brockwell Park which may have driven more footfall into the area (particularly to Tulse Hill venues).
Whilst we can’t attribute a direct correlation, we hope that by continuing to support local events and bringing venues, community groups and other businesses together under the ChooSE27 umbrella, we will make it easier for people to find out what’s happening locally.
In comparison to other SE London BIDs, our spend levels are significantly above Blue Bermondsey in Southwark, which has a retail and light industry centre more similar to ours.