13th Consecutive Month of Drop Despite Discounting Efforts
- Footfall declined for the 13th consecutive month in December
- Overall footfall decreased by 2.6% compared to last year
- High street footfall saw a decline of 2.1% for five consecutive months
- Retail parks experienced a 2.1% drop compared to November’s rate of 1.4%
- Shopping centres had the steepest decline at 3.9% compared to last year
- Diane Wehrle, Springboard marketing and insights director, commented on the trend
Footfall has declined for the 13th consecutive month in December, despite retailers offering heavy discounts during the festive period. Overall footfall dropped by 2.6% compared to last year, with high streets experiencing a decline of 2.1% for five consecutive months. Retail parks saw a decrease of 2.1% compared to November’s rate of 1.4%, while shopping centres had the steepest drop at 3.9%. Diane Wehrle, Springboard marketing and insights director, stated that this trend is evidence retailers can no longer rely on Christmas trading to make up for revenue losses earlier in the year. The gap between December and November footfall volumes has halved over the past seven years. Discounting does not stimulate customer activity and undermines profitability in the long run.
Factuality Level: 9
Factuality Justification: The article provides accurate information about footfall decline in different shopping locations, cites a source (Diane Wehrle), and presents a clear argument about the impact of discounting on customer activity during the festive period.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall decline in different shopping locations and offers insights from an expert on the situation. However, it lacks a more in-depth analysis of the underlying causes or potential solutions to the problem.
Financial Relevance: Yes
Financial Markets Impacted: Retailers
Financial Rating Justification: The article discusses the decline in footfall for retailers during the festive period, which can impact their revenue and profitability.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses a decline in footfall for retailers, but it does not mention an extreme event that happened in the last 48 hours. The impact of this situation is considered minor as it’s related to the retail industry and consumer behavior rather than a catastrophic event.
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