UK Retail Footfall Shows Promise Despite Brexit Turmoil

  • First year-on-year rise in non-food footfall since February
  • Average weekly footfall up by 4.4% compared to previous month
  • Non-footfall up across all UK regions
  • Non-food stores in Scotland & Northern Ireland saw highest uplift at 4.9% year-on-year
  • Easter and ‘Beast from the East’ impact on footfall compared
  • Brexit saga not directly affecting consumer behavior yet

March marked the first year-on-year increase in non-food store footfall since February, with a 1.6% rise, as per Ipsos’ Retail Performance Retail Traffic Index. Weekly footfall also increased by 4.4% compared to the previous month across all UK regions. Since May last year, the three-month trend has shown improvement. Non-food stores in Scotland and Northern Ireland experienced a 4.9% year-on-year uplift. Dr. Tim Denison, Ipsos Retail Performance’s director of retail intelligence, noted that this year’s March did not have Easter, unlike last year, which contributed to a 30% drop in footfall during the first week due to ‘Beast from the East’. Despite Brexit uncertainty, consumer behavior remains unaffected. Debenhams’ recent fate serves as a reminder of the challenging retail landscape.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the increase in footfall in non-food stores and compares it with previous years. It also includes relevant quotes from an expert on the topic. However, there is a brief mention of Brexit and Debenhams which could be considered tangential to the main topic.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in footfall in non-food stores and discusses the impact of Brexit on retail demand. However, it could benefit from more analysis or context to provide actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses changes in footfall in non-food stores, which can impact retail companies’ sales and revenue, thus affecting their financial performance. It also mentions the ongoing uncertainty of Brexit and its potential consequences on businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk