Online Shopping Trends Impact Retailers’ Decisions and Foot Traffic
- Boxing Day footfall decreased by 7.6% overall compared to last year
- High street footfall dropped 9.6%
- Retail parks saw a 6.1% decline in shoppers
- Shopping centres experienced a 5.1% drop by 8pm
- Coastal towns had the largest decline at 20%
- Central London footfall decreased by 7.6%
- Market towns saw a 2.2% dip
- Online shopping continues to reshape spending habits
- 53% of shoppers planned to complete at least half of their Christmas shopping online
- Footfall expected to increase on 27 December as more stores reopen
Boxing Day footfall dropped this year as shoppers shifted their post-Christmas spending habits. Overall footfall was down 7.6% compared to last year, with high street footfall slumping 9.6%, according to data from MRI Software. Shopper numbers across retail parks slipped 6.1%, and footfall in shopping centres declined by 5.1% by 8pm compared to 26 December 2023. The fall comes as some retailers like M&S, Next, and John Lewis kept their stores closed during the bank holiday this year. Coastal towns experienced the biggest decline, with footfall plummeting 20%. Meanwhile, it dipped 7.6% across central London and 2.2% in market towns. MRI Software analyst Jenni Matthews stated that ‘the growing presence of online shopping continues to reshape spending habits.’ Many retailers began their Boxing Day sales online on Christmas Day, offering shoppers the opportunity to grab early bargains from home comforts. The software company analyst added that ‘53% of shoppers planned to complete at least half of their Christmas shopping online; a trend which may continue between Christmas and the new year.’ Footfall is expected to increase again on 27 December as more stores reopen.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the decline in footfall on Boxing Day due to changes in shopping habits and the growing presence of online shopping. It cites data from MRI Software and includes expert opinions to support its claims.
Noise Level: 5
Noise Justification: The article provides some relevant information about the decline in Boxing Day footfall and the impact of online shopping on retail habits, but it also contains filler content such as the mention of John Lewis executive director’s excitement which doesn’t add much value to the overall understanding of the topic.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses changes in shopping habits and footfall, which can impact retailers’ sales and potentially their financial performance.
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 text and no major events occurred in the last 48 hours.
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