A Brighter Month for Retail?

  • Consumer footfall begins its journey to recovery in May
  • May was the sunniest since 1957 and had two bank holidays, boosting footfall
  • Retail parks saw a smaller decline than shopping centers
  • Smaller high streets were more resilient with a 41.4% drop compared to regional cities’ 88.8%
  • Online shopping growth doesn’t replace in-store demand, says Springboard director

Consumer footfall may have begun its journey to recovery in May, according to Springboard’s latest figures. The month was the sunniest since 1957 and included two bank holidays, which boosted footfall. Footfall in retail parks declined by 55.1% compared to a 68.1% drop in April. Smaller high streets saw a decline of only 41.4%, while regional cities plummeted 88.8%. As non-essential retail reopens, Springboard predicts that safety measures will be key for consumer demand.

Factuality Level: 8
Factuality Justification: The article provides accurate information about footfall trends during May and offers insights from Springboard’s data on consumer behavior during the pandemic. It presents relevant facts and figures to support its claims and includes expert commentary from Diane Wehrle, Marketing and Insights Director at Springboard.
Noise Level: 7
Noise Justification: While the article provides some relevant information about consumer footfall trends during May, it is mostly focused on reporting specific data points and does not offer much analysis or insight beyond stating that smaller high streets were more resilient and that consumers are eager to return to in-store shopping. It also lacks evidence or examples to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses consumer footfall in retail destinations and its impact on businesses, particularly during the pandemic and lockdown periods, which can affect the financial performance of companies in the retail industry.
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