Footfall Down 65.6% in January, High Streets Less Affected Than Previous Lockdowns

  • Retail footfall drops 65.6% in January compared to a 41.9% drop in December
  • High street footfall decline less severe than April 2020, but retail park decline worse
  • UK vacancy rate rises to 11.7% from 11.3% in October and 9.8% in January 2020
  • Stronger footfall in retail parks attributed to ‘lockdown fatigue’ and pent-up demand

Retail footfall has declined by 65.6% in January compared to a 41.9% drop in December as the first full month of the third national lockdown comes to an end. According to Springboard, high street footfall dropped by 72.6%, shopping centres by 73.6%, and retail parks by 42.1%. Although the decline is not as severe as the 80.1% recorded in April 2020 (first full month of the first lockdown), high streets and shopping centres have been less affected due to health services continuing operations. Retail parks, on the other hand, show a degree of ‘lockdown fatigue’ and pent-up demand for shopping opportunities. Springboard suggests this could indicate a potential ‘bounce back’ in spending when non-essential retail reopens. The UK vacancy rate rose to 11.7% from 11.3% in October 2020 and 9.8% in January 2020, highlighting the pandemic’s long-term impact on physical stores. Diane Wehrle, Springboard’s marketing and insights director, explains that stronger retail park footfall is due to lockdown fatigue and a desire to shop despite food store operators expanding delivery capabilities.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the decline in retail footfall during January compared to December and previous months. It also includes relevant data from Springboard and quotes from Diane Wehrle, which adds credibility to the report. The article does not include any irrelevant or misleading information, sensationalism, redundancy, opinion masquerading as fact, bias, invalid arguments, logical errors, inconsistencies, fallacies, or faulty reasoning.
Noise Level: 3
Noise Justification: The article provides relevant information about retail footfall during the third national lockdown and compares it with previous months and years. It also discusses the impact of the pandemic on bricks and mortar retail. However, it could benefit from more in-depth analysis or discussion of potential long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector, non-essential retailers, and real estate markets
Financial Rating Justification: The article discusses the impact of lockdowns on retail footfall and vacancy rates in the UK, which can affect the performance of retail businesses and the real estate market.
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