High Street Struggles Continue as Footfall Falls

  • February footfall declines by 2% compared to last year, marking the 15th consecutive month of decline
  • High street footfall experiences a deeper decline than previous year with 1.9% drop
  • Retail parks see 0.8% decline while shopping centres experience 3.4% drop
  • No region experienced growth in shopping centers in February
  • Uncertainty around Brexit is affecting consumer spending habits
  • Chinese New Year affects London footfall
  • Daytime footfall declines less than evening footfall due to cost of dining and warm weather

UK footfall saw a decline of 2% in February, marking the 15th consecutive month of decrease. High street footfall fell by 1.9%, with retail parks experiencing a 0.8% drop and shopping centers facing a 3.4% decline. No region reported growth in shopping centers during this period. The British Retail Consortium (BRC) attributes the decline to consumer caution due to Brexit uncertainty, leading to a needs-based approach to spending. Diane Wehrle of Springboard adds that Chinese New Year impacted London’s footfall, while daytime footfall declined less than evening footfall due to dining costs and warm weather during half term week.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about footfall decline in different locations and offers insights from experts on possible reasons behind it. It also includes relevant details such as the impact of Chinese New Year and weather conditions.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall decline and offers some analysis on the factors contributing to it, such as Brexit uncertainty and consumer behavior. It also includes quotes from experts in the field. However, it does not delve too deeply into potential solutions or long-term trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail and related companies
Financial Rating Justification: The article discusses a decline in footfall, which affects retail businesses and their performance, impacting the financial markets and companies in this sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but there is a significant decline in footfall for retail stores and shopping centers. The impact is considered minor as it does not involve deaths, injuries or major damage to infrastructure.

Reported publicly: www.retailsector.co.uk