Lockdown Impacts UK Retailers’ Holiday Sales
- Christmas footfall predicted to drop by 62%
- National lockdown restrictions impacting retail trading
- Online shopping becomes more important than ever before
- Consumers likely to spend less on Christmas presents
Springboard’s latest estimates reveal a 62% drop in footfall for the six weeks from November 22nd to December 26th across all UK retail destinations due to lockdown restrictions. If the national lockdown continues throughout December, the decline could reach 80%. Traditional uplifts in footfall during Christmas shopping season are at risk as non-essential retailers remain closed until at least December 2nd. Prior to the lockdown announcement, a survey found that 61.2% of consumers plan to spend more online while only 20.4% prefer bricks and mortar stores. Springboard’s ‘Unwrapping Christmas with Covid-19’ report shows 63.5% will spend less on presents this year, focusing on home time with family and groceries.
Factuality Level: 8
Factuality Justification: The article provides accurate information from Springboard’s estimates on the expected drop in footfall due to lockdown restrictions and includes relevant data from previous years. It also cites a survey of consumer behavior during the pandemic. However, it could provide more context about the impact of online shopping on overall retail sales and the potential consequences for struggling retailers.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of lockdown restrictions on UK retail during the holiday season and offers insights into consumer behavior during the pandemic. It also includes data from a recent report. 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 the impact of lockdown restrictions on UK retail destinations and footfall, which affects the financial performance of non-essential retailers and consumer spending habits during the crucial Christmas shopping period. This has implications for the retail sector and related companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses the impact of COVID-19 pandemic on retail businesses, but it does not mention an extreme event in the last 48 hours. The situation is considered minor as it mainly focuses on the economic consequences and restrictions rather than a specific extreme event.
www.retailsector.co.uk 
