UK retail destinations see significant increase in footfall over the bank holiday weekend
- Bank holiday footfall rises 12.9% compared to the previous week
- Footfall increases in coastal towns and historic towns by 4.9% and 2.7% respectively
- Market towns see a rise of 14.8%, Outer London experiences a 10.1% increase
- Overall footfall slightly higher than the same period in 2022, but still 11.6% lower than 2019 levels
- MRI Springboard predicts UK-wide footfall to drop over Coronation weekend
- Central London expected to be more resilient during Coronation celebrations
The recent bank holiday weekend witnessed a substantial rise in footfall, with an increase of 12.9% compared to the previous week, according to MRI Springboard. Coastal towns and historic towns experienced rises of 4.9% and 2.7%, respectively, while market towns saw a 14.8% increase and Outer London had a 10.1% rise. Although overall footfall is slightly higher than the same period in 2022, it remains 11.6% lower compared to 2019 levels. MRI Springboard predicts that UK-wide footfall will decrease over the Coronation weekend, with Central London expected to be more resilient. Diane Wehrle, insights director at MRI Springboard, commented on the trend: ‘Footfall across UK retail destinations continued to strengthen in the lead up to the early Spring Bank holiday weekend.’ Steven Medway, CEO of Knightsbridge and King’s Road Partnerships, added that tourism is crucial for their economy and anticipates a 10-15% increase in visitors during the Coronation celebrations.
Factuality Level: 9
Factuality Justification: The article provides accurate information about footfall trends in different areas of the UK during the bank holiday weekend and includes expert opinions from industry professionals. It presents data from MRI Springboard and discusses predictions for the Coronation weekend.
Noise Level: 6
Noise Justification: The article provides relevant information about footfall trends in different areas of the UK during the bank holiday weekend and offers some predictions for the Coronation weekend. However, it contains some repetitive information and could benefit from more analysis or context on the overall impact of these events on retail and tourism.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses changes in footfall (visitor numbers) in various locations, which can impact retail businesses and potentially affect their revenues.
Financial Rating Justification: The article mentions the impact of events such as bank holidays and the Coronation on footfall, which can influence consumer spending and therefore have financial implications for retail businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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