Retail Footfall Shows Mixed Results Amid Protests and Economic Uncertainty
- Footfall decline in October continues
- Non-food store visits down by -6.2% year-on-year
- Improvement compared to previous months’ declines of -9.9% and -9.8%
- Average weekly footfall up 1.1% against September
- London and south east see decline
- Disruption from Extinction Rebellion protests
- Three-month trend shows widening gap from -7.8% to -8.6%
- Tim Denison’s comments on the situation
New figures from the Retail Traffic Index reveal a continued decline in footfall for October, with non-food store visits down by 6.2% year-on-year. This follows declines of -9.9% and -9.8% in the previous months. However, average weekly footfall increased by 1.1% compared to September. London and the south east were the only areas to see a decline, with a drop of -1.1%. Extinction Rebellion protests caused some disruption. The three-month trend shows a widening gap from -7.8% in September to -8.6% in October. Tim Denison, director of retail intelligence at IRP, commented on the situation, stating that non-food retailers have faced reduced demand compared to last year and referencing recent high street casualties like Bonmarché and John Lewis’s first half-yearly loss. Despite this, monthly data shows an improvement as average weekly footfall increased for the first time in five years. The ‘Golden Quarter’ remains uncertain.
Factuality Level: 8
Factuality Justification: The article provides accurate information from Ipsos Retail Performance’s Retail Traffic Index, discusses the year-on-year and month-on-month changes in footfall, and includes relevant expert commentary on the situation. It also mentions specific factors affecting footfall such as Extinction Rebellion protests and speculates about potential consumer behavior during the ‘Golden Quarter’.
Noise Level: 4
Noise Justification: The article provides relevant information about retail footfall trends and offers some analysis on potential reasons for the changes. It also includes quotes from an expert in the field. However, it could benefit from more data or context to support its claims and provide a clearer picture of the overall state of the retail industry.
Financial Relevance: Yes
Financial Markets Impacted: Non-food retailers
Financial Rating Justification: The article discusses the decline in footfall and its impact on non-food retailers, which can affect their sales and profits, potentially impacting financial markets through stock prices of these companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article mentions disruption caused by Extinction Rebellion protests, but it is not an extreme event in terms of death, injuries, economic impact, damage to infrastructure, or long-term consequences. The impact seems minor as the protests affected only London and the south east, and the footfall improved compared to previous months.
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