Popular now
Under Armour falls to £110m loss in Q3 amid higher costs

Under Armour falls to £110m loss in Q3 amid higher costs

Dunelm bolsters leadership team with two senior appointments

Dunelm bolsters leadership team with two senior appointments

Ocado prepares to cut 1,000 jobs in cost-cutting push

Ocado prepares to cut 1,000 jobs in cost-cutting push

Footfall jumps in first week of June but stalls amid restriction delay

Footfall jumps in first week of June but stalls amid restriction delay

In this episode we speak to Matt Dalton, consumer sector leader at Forvis Mazars. Matt discussed the biggest challenges facing the retail sector, from cost pressures and wage increases to polarised property markets and geopolitical shocks, and the ways in which retailers can best navigate these. We also explore how short-term cost-cutting could undermine long-term resilience, and how retailers can best remain agile and adaptable in unforecastable times.

Register to get 5 free articles

Reveal the article below by registering for our email newsletter.

No spam Unsubscribe anytime

Want unlimited access? View Plans

Already have an account? Sign in

Footfall across UK retail destinations continued to strengthen in June, moving to -22.2% below the 2019 level from -27.5% in May, the strongest result since the start of the pandemic, according to the latest monthly data from Springboard.

However, Springboard revealed that the gains were “largely” made in the first week of the month, which included the early spring Bank Holiday when the weather was hot and coincided with the half term school break.

In that week alone, footfall across all destinations improved to -14.5% below the 2019 level from -26.8% in the week before.

The largest gains in footfall were made in high streets which continued to benefit from the reopening of indoor hospitality, and which improved by a third in June.

Footfall declined from 2019 by -27.2% in high streets, -29.1% in shopping centres and -4.1% in retail parks.

In the South West – which this year has been the “go to” destination for staycations – footfall was just -1.8% below the 2019 level in the first week of the month.

Springboard added that over the remainder of June footfall “worsened incrementally” each week, which it added was “undoubtedly a reflection of the lack of impetus for consumers to shop”, following the government’s announcement in the delay of ‘freedom day’ until 19 July.

Diane Wehrle, marketing and insights director, said: “The strong footfall seen in the first week of the month inevitably created misplaced optimism as over the remainder of June footfall worsened incrementally each week. This was undoubtedly a reflection of the lack of impetus for consumers to shop following the government’s announcement in the delay of ‘freedom day’ until 19 July.

“This was heightened by the continued restrictions and limitations on overseas travel, which also reduced the need to shop for summer fashion in advance of overseas holidays.”

She added: “Moving into July, however, the opportunity for bricks and mortar retail to attract back consumers is significant.The removal of restrictions set for 19 July and the greater freedoms this offers – coinciding with the school summer holiday period – is likely to deliver a fresh incentive for consumers to visit bricks and mortar destinations.”

Previous Post
WH Smith to open 18 new stores across UK airports

WH Smith to open 18 new stores across UK airports

Next Post
Asos reduces per order emissions by 21%

Asos reduces per order emissions by 21%

Secret Link