As the festive season unfolds, UK retail footfall encountered a notable setback, witnessing a 1.1% week-on-week decline, compounded by a substantial 5% drop year on year. This dip, attributed to disruptions from rail strikes and adverse weather conditions, raises concerns during a pivotal time for retailers.
Insights from MRI Software, a specialized tracking company, highlight that high streets bore the brunt of this decline, experiencing a 1.7% week-on-week drop. Retail parks also suffered, with a 1.1% decrease, while shopping centers showed resilience with a modest 0.3% rise.
Despite the challenging week, there was a marginal narrowing of the gap from 2019 levels, with an overall 13.7% deficit across all UK retail destinations. Comparing to the pre-pandemic period, high streets remained down by 14.7%, retail parks by 4.6%, and shopping centers by a substantial 20.3%.
Notably, Sunday and Thursday saw significant declines in footfall, registering drops of 5.6% and 7.8%, respectively, compared to the previous week. Conversely, the days in between showcased an average 1% rise in footfall across all UK retail destinations, primarily driven by shopping centers.
Despite declines in most regions, the South East saw a marginal increase (+0.1%), and Greater London exhibited an 0.8% rise. Encouragingly, MRI Software’s Central London ‘Back to Office’ benchmark indicated minimal impact from last week’s rail disruptions, witnessing a 2.2% rise in footfall compared to the previous week.
Looking ahead, Jenni Matthews, Marketing and Insights Director at MRI Software, anticipates a resurgence in footfall in the upcoming week. This optimism is especially tied to expectations for the busiest Saturday of the year, colloquially known as ‘Super Saturday.’ With Christmas Eve falling on the 23rd of December, shoppers are likely to utilize this day for finalizing festive purchases, setting the stage for a potential retail upswing.
