Early May Bank Holiday Uplifts UK Footfall, Coastal Towns and Central London Decline

  • Footfall increased by 29.5% year-on-year and 0.7% week-on-week due to two bank holidays.
  • Easter trips’ end led to declines in coastal and historic towns and central London footfall.
  • Market towns and outer London saw an increase in footfall.
  • Overall, footfall is still 17.5% lower than pre-Covid levels in 2019.
  • Weekday footfall was down across all destination types, particularly high streets and shopping centers.

The recent bank holidays have led to a 29.5% increase in footfall compared to last year, rising 0.7% from the previous week. Springboard attributes this to Easter’s influence on the beginning of the week due to low comparables from Easter Sunday and Monday. As Easter trips concluded, coastal and central London experienced declines in footfall, while market towns and outer London saw an uptick. Despite these gains, overall footfall remains 17.5% below pre-Covid levels in 2019. Weekdays witnessed lower traffic across all destinations, with high streets and shopping centers experiencing larger drops than retail parks. Springboard suggests a rise in office workers returning to city centers.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the impact of bank holidays on footfall, compares year-on-year and week-on-week data, and discusses changes in footfall trends across different locations and types of destinations. It also mentions a possible reason for the observed changes (returning employees to offices). However, it could provide more context about the source of the data and be more specific about how the data was collected.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of bank holidays on footfall and compares it to pre-Covid levels. It also mentions changes in specific locations and types of destinations. However, it could benefit from more analysis or context on how these trends may affect businesses or consumers.
Financial Relevance: Yes
Financial Markets Impacted: The article impacts financial markets through changes in consumer behavior and retail footfall, which can affect retail stocks and related investments.
Financial Rating Justification: The article discusses the impact of bank holidays on footfall, which can influence consumer spending patterns and retail performance. This information is relevant to investors and businesses in the retail sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article

Reported publicly: www.retailsector.co.uk