In July, the UK experienced a noticeable decline in footfall, correlating with political uncertainty.
- High street footfall witnessed a year-on-year fall of 2.7%, reflecting a shift in consumer behavior.
- Retail park footfall dropped slightly by 0.8% compared to the previous year, emphasizing localized trends.
- Shopping centers experienced a more significant decline of 3.9% year-on-year, influenced by broader economic factors.
- The culmination of election week saw the steepest declines, pinpointing a direct correlation with consumer confidence.
Total footfall across the UK faced a downturn of 3.3% in July, significantly impacted by the uncertain landscape due to the election. High street footfall alone dropped by 2.7% year-on-year, a slight improvement from June’s -3.1%. This suggests an ongoing adjustment in consumer spending habits, with many opting for holiday and leisure activities over traditional shopping excursions.
The data presented by BRC-Sensormatic IQ also highlighted a 0.8% decrease in retail park footfall compared to the previous year. This reduction, while less severe, indicates a broader hesitancy among consumers, possibly tied to economic concerns amplified during the election period.
Shopping centers, often regarded as bustling hubs of consumer activity, reported a more substantial 3.9% decrease in July. This stability from the previous month highlights enduring caution among shoppers that might reflect global economic pressures.
Analyzing the figures further, it’s evident that England bore the brunt of this decline, with a marked 3.4% drop year-on-year. Such disparities among the UK nations may point to regional economic differences or varied consumer confidence levels in response to political events.
Helen Dickinson, CEO of the British Retail Consortium, remarked on the prolonged fall in footfall, noting that “footfall declined for the twelfth consecutive month.” She cited increased spending on vacations as a key factor, alongside electoral uncertainty.
The post-election environment now poses new challenges and opportunities for retailers. As the election results settle, there is optimism among some retailers bolstered by promises of reform in business rates and planning laws. These changes, if actualized, could stimulate investment in retail sectors, potentially reversing footfall trends.
The decline in footfall reflects ongoing consumer caution amidst political uncertainty, with potential for recovery tied to policy reform.
