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Footfall in UK retail destinations was marginally higher by +0.4% in all UK retail destinations during the month of December, according to the latest data from MRI Software.
This was driven by a +1.2% rise in retail park activity and a +0.3% increase in high streets, however shopping centres saw a minor drop of -0.1%, which may well indicate the pressures of the cost-of-living crisis still existing for many.
On a monthly comparative, footfall rose by +7.1% in December from November in all UK retail destinations led by a +13.2% boost in shopping centre footfall, followed by a +5.7% rise in retail parks, and by +4.8% in high streets. This is the greatest month on month increase seen since 2019 when footfall rose by +8.7% for the same time period.
This year, Christmas Day fell midweek which provided consumers with an extra couple of days earlier in the week to head to the shops and grab those last-minute gifts and groceries. Retail stores and destinations also benefited from an additional boost on the other side of Christmas as shoppers emerged from their post-Christmas slumber to take advantage of the Boxing Day sales and restock on groceries however this didn’t occur until 27 December.
A subdued start to the Boxing Day sales saw footfall decline by -4.9% in all UK retail destinations in comparison to Boxing Day last year. MRI said the decline in Boxing Day activity likely reflects a shift in consumer behaviour, influenced by the ongoing cost-of-living crisis.
With footfall levels +18.1% higher in all UK retail destinations on Christmas Eve this year compared to Christmas Eve last year, many shoppers may well have concentrated much of their spending in a pre-Christmas rush.
Looking ahead, MRI said retailers are bracing themselves for a “challenging start” to 2025 following the Autumn Budget which was revealed towards the end of October; this will bring with it financial challenges with rising costs anticipated and decisions will need to be made as to whether these costs are passed onto the consumers or absorbed by the business.
MRI Software’s latest Consumer Pulse report revealed that 51% of shoppers are concerned about the rising cost of living driven primarily by higher energy and housing costs as winter approaches.
