Footfall on major streets decreased 11.6% in October (Yo3Y), 0.3 percentage point better than last month’s rate and an improvement over the 3-month average decline of 11.9%. Retail parks saw footfall decline by 3.7 percent (Yo3Y), 1.1 percentage points worse than last month’s rate, but an improvement on the 3-month average decline of 4.3 percent.
Total footfall in the UK decreased by 11.8% in October of the year for 3 years (Yo3Y), 2.0 percentage points less than in September. This is down from the 3-month average decline of 10.8 percent, according to data from BRC-Sensormatic IQ. Footfall on the High Streets decreased by 11.6% in October (Yo3Y), 0.3 percentage point better than last month’s rate.
As for shopping malls, their footfall decreased by 21.8% (Yo3Y), 0.9 percentage points better than last month’s rate and above the 3-month average drop of 22.2%, according to the data. .
England again experienced the smallest drop in footfalls of any region at 11.4%, followed by Scotland at 12% and Northern Ireland at 13.1%. Wales experienced the steepest drop at 16.1 per cent.
On a year-over-year basis, total footfall increased 2 percent; The influx in main streets increased by 7.6% and in shopping centers by 2.8%. Retail parks decreased by 3.2% year-on-year.
Helen Dickinson OBE, Chief Executive of the British Retail Consortium, he said: “Football stumbled from its slow return to pre-pandemic levels as rising prices and tightening budgets meant far fewer consumers made trips to stores. October marked the first full month of higher energy bills for many families after the price cap rose 26 percent, reducing households’ discretionary spending. Rail strikes were also unfavorable, as most cities saw a drop in traffic; which could be exacerbated by further strikes.
“The next few months will be crucial as the Christmas spending period begins. Households are unlikely to see the cost-of-living crisis ease anytime soon, with retailers finding it harder to withstand mounting supply chain pressures. To support the public, the government must find ways to help ease the cost pressures that are driving up prices, in particular the £800m increase in trade tariff bills that will hit retailers and in turn , to its customers, in 2023”.
Andy Sumpter, EMEA Retail Consultant for Sensormatic Solutionscommented: “While the Halloween sales may have given the high street a respite, shoppers spooked by the rising cost of living meant the reality of growing consumer caution manifested itself in October’s footfall figures.
As consumers and retailers alike adjust to what is being coined the ‘new abnormal’, in which economic and political uncertainty creates new and increasingly frequent hurdles, retailers hope to minimize disruptions to safeguard their performance. Christmas. Additionally, with planned postal strikes in November risking disrupting Black Friday deliveries, retailers will encourage shoppers to head to the store, rather than risk late deliveries when shopping online for Black Friday deals. “.
Fibre2Fashion News Desk (KD)