Footfall sees modest rise amid consumer nervousness over costs
Springboard said that under normal trading conditions a larger spike would be expected than the 1.3% increase
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Footfall rose by just +1.3% across UK retail destinations last week from the week before, after a decline of -7.5% following the school half term in the week before last, according to Springboard.
Springboard said that the modest increase indicates “consumer nervousness” in the midst of the cost of living crisis and rising interest rates, as under normal trading conditions a larger spike would be expected.
It found the week was highly polarised with drops on both Sunday and Monday that averaged -9.4%, followed by a modest rise of +1.9% from Tuesday to Friday. Over the working week, the greatest increase of +5% occurred on Wednesday, which was more than twice the rise of any other day during the five-day period.
Footfall rose by +2.1% in high streets and by +0.9% in shopping centres whilst remaining flat from the week before in retail parks.
The rise in footfall in high streets and shopping centres occurred across the majority of UK geographies, with just Wales recording a decline of -2.6% in high streets and -14.6% in shopping centres, and a drop in high street footfall of -10.7% in Northern Ireland.
Footfall last week was just +5% above the 2021 level with the gap from 2019 widening to -11.1% from -9.8% in the week before last. The gap from 2019 in shopping centres of -17% remains larger than the gap of -12.4% in high streets. Whilst footfall in retail parks last week was flat from the week before, the gap from 2019 was just -2.1%.
Diane Wehrle, insights director at Springboard, said: “Following a large decline in footfall in the week before last, last week footfall in UK retail destinations rose only marginally. Under normal trading conditions we would expect footfall to bounce back in the week following a decline; however, the modest uplift last week is a clear indicator of the increasing cautiousness of consumers in terms of making trips and spending.
“The results also indicate the change in consumer behaviour that is starting to become evident as a consequence of hybrid working, with the weekend increasing in significance for shopper activity. Footfall over the working week rose last week, however, the increase only partially made up for the drop in activity in the previous week.”
