Non-Food Stores Adapt as Scotland and Northern Ireland Feel the Brunt

  • Footfall figures decline by 3.8% in July compared to the same period last year
  • Non-food stores finding their new norm with traffic online and in store rebalancing
  • Stores in Scotland and Northern Ireland suffered most with a -6.5% drop in weekly footfall
  • Three-month trend in store footfall down from -9.1% to -3.3% compared to last year

Footfall figures for July reveal a decline of 3.8% compared to the same period last year, according to Ipsos Retail Performance’s Retail Traffic Index. This is an improvement from June’s 3.9% deficit. Despite this, footfall increased by 3.4% in comparison to June’s figures. Scotland and Northern Ireland experienced the most significant drop at -6.5% weekly compared to last year’s July. Tim Denison, director of retail intelligence at Ipsos Retail Performance, stated that these numbers show non-food stores are finding their new normal with online traffic and in-store traffic rebalancing. Last year at this time, the three-month trend in store footfall was down by -9.1%, now it’s at -3.3%. Although overcapacity remains an issue, some locations see more footfall than others, necessitating estate rationalisation.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the decline in footfall figures for July compared to previous months and years, citing a source (Retail Traffic Index) and includes relevant quotes from an expert in the field. However, it could provide more context or background information on the retail industry’s current state and challenges.
Noise Level: 4
Noise Justification: The article provides relevant information about footfall figures and insights from an expert in the field, but it could benefit from more context or analysis on the reasons behind the decline and potential solutions to address overcapacity and vacancy levels.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses the decline in footfall figures, which can impact retail companies’ sales and revenue, affecting 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 mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk