Shoppers flock back to high streets, signaling a retail revival!

  • Retail footfall in England increased by 41.7% yesterday morning compared to last week.
  • High streets saw a 51.7% rise in footfall, outperforming shopping centres which rose by 37%.
  • Warm weather encouraged shoppers to queue outside stores.
  • Year-on-year decline in footfall reduced to -34.2% across all retail destinations.
  • Consumers missed restaurants, cafes, and entertainment the most during lockdown.
  • Footfall is expected to rise further as government restrictions ease.

Retail footfall across England experienced a remarkable increase of 41.7% yesterday morning, June 15, compared to the previous week, with high streets leading the charge with a 51.7% rise. According to Springboard, a retail analytics firm, this surge is attributed to favorable weather conditions, which made shoppers more willing to queue outside stores. While shopping centres saw a 37% increase in foot traffic, high streets outperformed them significantly. nnThe reopening of non-essential retail has also contributed to a reduction in the year-on-year decline in footfall, which now stands at -34.2% across all retail destinations in England and -41.2% specifically for high streets. This indicates that footfall is approximately one-third lower than the same day last year. nnBefore the reopening, a study by Springboard and AL Marketing revealed that consumers were concerned about safety measures and potential long queues. However, the reopening has prompted a rush of shoppers back to high streets, retail parks, and shopping centres. nnAs restrictions continue to ease, footfall is expected to rise even further. The study highlighted that consumers missed dining out and entertainment the most during lockdown, with 32% missing restaurants and cafes, 21% missing fashion, and 16% missing entertainment. nnDiane Wehrle, insights director at Springboard, noted that while footfall in retail parks dominated by high street retailers rose by 41.7%, the overall increase in retail parks was only 25.1%. This suggests a shift in consumer preference towards high street retailers like M&S and Next. nnIt’s important to note that these figures only reflect footfall up to noon, and further increases are anticipated as more shoppers venture out later in the day and during lunch hours.

Factuality Level: 8
Factuality Justification: The article provides accurate information from a reputable source (Springboard) about retail footfall increases and consumer behavior during the reopening of non-essential stores. It also includes relevant data and expert insights from Diane Wehrle, the insights director at Springboard. The article is focused on the main topic without any digressions or unnecessary details.
Noise Level: 3
Noise Justification: The article provides relevant information about retail footfall increases after the reopening of non-essential stores and the impact of weather on shoppers’ behavior. However, it could benefit from more in-depth analysis or discussion of long-term trends and consequences of these changes.
Financial Relevance: Yes
Financial Markets Impacted: The reopening of non-essential retail stores impacts companies in the retail sector.
Financial Rating Justification: The article discusses the increase in footfall in retail destinations and how it affects high streets, shopping centers, and retail parks. This can impact financial markets as it reflects consumer behavior and spending patterns, which can affect the performance of retail companies.
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 article. The increase in retail footfall can be considered a positive development for businesses, but it does not meet the criteria for an extreme event.

Reported publicly: www.retailsector.co.uk