Greater London Outperforms Northern Regions

  • Footfall declined in July compared to June 2022
  • High streets saw a -17% decline compared to 2019
  • Shopping centres experienced a -18.6% drop
  • Retail parks had a -3.5% decrease
  • Extreme heatwave impacted footfall in the third week of July
  • North-South divide in recovery continues to widen
  • Greater London’s footfall +27.4% above 2021 levels
  • North and Yorkshire’s footfall only +8.9% above 2021 levels
  • Northern Ireland’s footfall +7.2% above 2021 levels
  • Scotland’s footfall +9.2% above 2021 levels
  • Springboard predicts August plateau or slight decline in footfall
  • September to see a -3% drop in footfall

Footfall declined in July compared to June 2022, with high streets experiencing a -17% drop compared to 2019 levels, shopping centres seeing a -18.6% decline, and retail parks facing a -3.5% decrease. The extreme heatwave in the third week of July further impacted footfall. The north-south divide in recovery continues to widen, with Greater London’s footfall +27.4% above 2021 levels, while North and Yorkshire’s footfall was only +8.9% above 2021 levels, and Northern Ireland and Scotland at +7.2% and +9.2%, respectively. Springboard predicts a plateau or slight decline in August footfall followed by a -3% drop between August and September.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the latest data on footfall in different regions of the UK, comparing it to previous months and years. It also includes relevant details from Springboard’s analysis. However, it could be improved by providing more context or background information on the factors affecting footfall and a clearer explanation of the north-south divide.
Noise Level: 4
Noise Justification: The article provides relevant information about the changes in footfall compared to previous years and regions, but it could benefit from more analysis or context on the reasons behind the north-south divide and potential long-term implications.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses footfall trends in different regions of the UK, which can impact retail businesses and their performance, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text. The article discusses a decline in footfall due to the heatwave, which had a minor impact on retail performance.

Reported publicly: www.retailsector.co.uk