Footfall recovers in August despite cost of living crisis
The rise in temperatures to record levels during the middle of the month only had a ‘localised and short-lived’ impact on footfall; the week on week change in high street footfall in the middle of the month averaged -3.8% versus an average increase of +2.6% over the first and last weeks.
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Footfall has strengthened across UK retail destinations in August 2022 to -13.2% below 2019 compared with -14.2% in July 2022, after it had weakened from -12.3% in June 2022, according to Springboard’s Footfall Monitor.
The “unexpected turnaround” covering the four weeks 31 July to 27 August saw footfall strengthened in high streets to -15.1% and to -17.5% in shopping centres, however worsened in retail parks to -4.5% compared with the same period in 2019.
UK footfall in August 2022 is -13.2% below 2019, but by +8.6% compared with August 2021, which Springboard said is “better than anticipated” given the recent rise in inflation and the impending impact on households of the increase in energy costs.
According to the data, the continuous heat in August encouraged staycations, fuelling activity in retail destinations, and many consumers took a much longed for and deferred summer holiday during August.
However, The rise in temperatures to record levels during the middle of the month only had a “localised and short-lived” impact on footfall; the week on week change in high street footfall in the middle of the month averaged -3.8% versus an average increase of +2.6% over the first and last weeks.
Springboard added it is expecting its “traditional” dip in footfall from August to September as schools go back, which has occurred every year since Springboard started publishing its footfall data in 2009, and anticipate that it will be at least equal to or even greater than the -3.3% recorded in September 2019.
Springboard Footfall Monitor and Insights UK August 2022 Footfall remains buoyant in August but will be “short lived in anticipation of austerity due to the impending energy crunch set to hit UK households by October”.
