Heavy Rain and Consumer Caution Impact High Street Visits

  • Retail footfall drops by 10% over the last seven years
  • High street footfall declines by 1.7% in September compared to the same period last year
  • Three-month average decline is at 1.6%
  • Heavy rain affects footfall performance in the last week of September
  • Brexit and essential purchases impact consumer behavior

Retail footfall has dropped by 10% over the last seven years, according to recent data from BRC and Springboard. In September, there was a 1.7% decline in shoppers visiting high street stores compared to the same period last year. The three-month average decrease is at 1.6%, with high street footfall down by 1.8%. Diane Wehrle, Springboard’s marketing and insights director, attributed much of this decline to heavy rain in the last week of September, which resulted in a -6.1% drop. She noted that the preceding four weeks had an average decline of -0.7%, suggesting footfall would have been less than -1% without the weather impact. BRC CEO Helen Dickinson stated that retailers face sustained drops due to Brexit concerns and consumers prioritizing essential purchases, leading to a 1.7% decrease in foot traffic. High streets and shopping centers were hit hardest, while retail parks fared slightly better with their diverse offerings.

Factuality Level: 9
Factuality Justification: The article provides accurate information from reliable sources (BRC and Springboard), presents data in a clear manner, and offers insights from experts in the field. It does not include any sensationalism or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about the decline in retail footfall and offers some context for the drop in September due to heavy rain. It also mentions the impact of Brexit on consumer behavior. However, it lacks analysis or exploration of long-term trends or possibilities, accountability, scientific rigor, intellectual honesty, staying on topic, evidence, data, examples, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses a decline in footfall and sales, which can impact retail companies’ revenue and potentially affect their stock prices, thus affecting financial markets.
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 decline in footfall and sales is due to a combination of factors including Brexit uncertainty and heavy rain, but it’s not considered a major crisis or disaster.

Reported publicly: www.retailsector.co.uk