UK Bricks-and-mortar Stores See Little Gain from Black Friday
- Black Friday provided little benefit to struggling high street stores
- Overall footfall declined by 5.4% compared to last year
- Shopping centres experienced the worst hit with an 8.3% drop in footfall on Friday
- Online shopping is seen as a more convenient option due to 24-hour availability and strong discounts
- High streets and retail parks showed some resilience due to wider range of hospitality outlets
This year’s Black Friday has provided little benefit to struggling high street stores, according to data from Springboard. The overall footfall declined by 5.4% compared to last year, with similar declines on Saturday (-5.6%) and Sunday (-4.3%). Shopping centres were the worst hit, experiencing an 8.3% drop in footfall on Friday. Springboard attributes this decline to major chains’ strong online presence and free delivery offerings, making it less necessary for customers to visit their stores. Diane Wehrle, insights director of Springboard, explained that the drop in footfall is a reflection of larger discounts available online. She added that high streets and retail parks showed some resilience due to their wider range of hospitality outlets, making Black Friday weekend an opportunity for a day out with friends or family. The convenience of online shopping and continuous discounts on Cyber Monday may have also contributed to the decline.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the decline in footfall for bricks-and-mortar stores during Black Friday and offers insights from a reputable source (Springboard) to support its claims. It also explains the reasons behind this trend, such as the convenience of online shopping and the wider range of hospitality options on high streets and retail parks. The article is not sensationalist or opinionated, and presents a balanced view of the situation.
Noise Level: 7
Noise Justification: The article provides relevant information about the decline in footfall for bricks-and-mortar stores during Black Friday and offers some analysis on why this might have happened. However, it could benefit from more data or examples to support its claims and provide a broader context of the overall retail performance during the holiday season.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Financial Rating Justification: The article discusses the decline in footfall for bricks-and-mortar stores during Black Friday weekend, which impacts retail companies and potentially affects their financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, just a discussion about the impact of Black Friday on physical stores and online shopping.
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