High Streets Record Strongest Performance Amidst Adverse Conditions

  • Footfall increased by 0.4% overall in the week leading up to Black Friday
  • High streets saw a 1% rise in footfall
  • Shopping centres experienced a 0.6% increase in footfall
  • Retail parks witnessed a decline of 1.3%
  • Challenging weather conditions impacted the first half of the week
  • Footfall improved from Wednesday onwards
  • Year-on-year situation remained negative for high streets and shopping centers
  • Gap from 2019 levels worsened in shopping centers and retail parks
  • Optimism for high streets as gap slightly improved
  • Footfall declined in Scotland, coastal towns, and Greater London

Footfall increased by 0.4% in the week leading up to Black Friday, according to MRI Software data. High streets recorded a 1% rise in footfall, while shopping centers experienced a 0.6% increase. Retail parks saw a decline of 1.3%. Challenging weather conditions during the first half of the week may have discouraged shoppers, but footfall improved from Wednesday onwards. High streets showed noticeable improvements from Wednesday to Saturday, averaging a 6.7% rise compared to the previous week. Despite this, year-on-year situations remained negative for high streets and shopping centers, with only a marginal improvement in retail parks. The gap from 2019 levels worsened in shopping centers and retail parks, while there was a slight improvement in high streets. Jenni Matthews, marketing and insights director at MRI Software, commented: ‘It was a week of two halves as weather warnings were issued in the first half, which likely discouraged consumers from venturing out. However, footfall rose each day from Wednesday onwards with the week ending on a positive note for retail destinations as we head into Black Friday week.’ Matthews added: ‘Across the UK, footfall increased in seven out of eleven geographical regions, but Scotland, coastal towns, and Greater London experienced declines due to heavy rain and strong winds at the start of the week.’

Factuality Level: 8
Factuality Justification: The article provides accurate information about footfall trends leading up to Black Friday based on data from MRI Software. It includes relevant details about performance across different types of retail destinations and compares them with the previous week and year-on-year figures. The article also quotes an expert’s opinion on the situation, providing a balanced view of the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall trends leading up to Black Friday and offers some insights into the impact of weather conditions on consumer behavior. However, it could benefit from more analysis or contextualization of the data and a deeper exploration of the implications for retailers and consumers.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses changes in footfall (number of people visiting retail destinations) which can impact sales and revenue for retailers, affecting their financial performance.
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.

Reported publicly: www.retailsector.co.uk