Impact on High Streets and Businesses
- City centre hospitality and retail hit hardest by new Covid-19 restrictions
- Footfall rebounded in September after dropping 28.2% in August
- School reopening and lockdown restrictions caused the slump
- High streets suffered more than shopping centres and retail parks
- Evening footfall declined due to 10pm curfew policy
A study by Springboard reveals that city centre hospitality and retail have been hit hardest by the recent government Covid-19 restrictions, particularly in high streets. Footfall rebounded in September after dropping by 28.2% in August due to schools starting and new lockdown measures. The decline accelerated from 25% in the first week of September to 28.7% by the third week compared to the same period in August. Overall, footfall fell by 31.4% to the end of September, with high streets experiencing a worse decline from 34.3% to 39.4%, while shopping centres saw a marginal decline from 32.6% to 33.7%. Retail parks initially declined by 12.5%, which lessened slightly to 11.8%. Evening footfall weakened due to the 10pm curfew, with post-8pm footfall dropping by 44.7% compared to a 30.7% fall during 9am-5pm.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the impact of schools reopening and government Covid-19 restrictions on city centre hospitality and retail. It cites a reputable source (Springboard) and presents data to support its claims. However, it could be improved by providing more context or background information on Springboard and the methodology used in their study.
Noise Level: 4
Noise Justification: The article provides relevant information about the impact of schools reopening and Covid-19 restrictions on city centre hospitality and retail. It cites a specific study by Springboard and includes data to support its claims. However, it could benefit from more in-depth analysis or contextualization of the findings.
Financial Relevance: Yes
Financial Markets Impacted: Hospitality and retail sectors
Financial Rating Justification: The article discusses the impact of schools reopening and government Covid-19 restrictions on footfall in city centres, affecting hospitality and retail businesses, which are financial topics as they relate to specific industries and their performance.
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 restrictions on city centre hospitality and retail, but does not mention an extreme event in the last 48 hours.
www.retailsector.co.uk