Dive Brief:

• January retail traffic was down 11.7% from last year and sales fell 12.8%, according to a RetailNext Composite Index Report that analyzes some 15 million shopping trips, mostly from specialty and big-box physical retailers.

• The report reiterated what many have said — and are hoping is true — that weather has had a major impact on foot traffic. The worst reports came from the Midwest (a decline of 15.6%) and Northeast (decline of 11.9%), where January was the coldest in three years and snowfall four times more than normal.

• Conversion and average transaction value were worse for retailers compared to the holiday period, the report found.

Dive Insight:

The good news in this report is the further proof that weather, and not necessarily the wider economy, is having a severe impact on retailers’ foot traffic and bottom lines. More will be revealed in the next couple of months’ reports. And with Presidents Day sales even better than those on Black Friday, consumers may still have their thirst for deep discounts. Still, once the snow is gone and consumers can imagine wearing something besides boots and heavy coats, maybe more than the ice will finally begin to thaw.