High Streets Hit Hardest, London Sees 1.4% Drop During Strike Week
- UK footfall dropped by 3.9% last week due to RMT Union Rail Strikes
- Thursday was the worst performing day with a 13.7% decline in footfall
- High streets saw the weakest performance at a 3.3% decline
- London footfall decreased by 1.4% over the strike week
- London footfall decreased by 7.4% on Tuesday, impacted by both rail and tube strikes
- Retailers hope for a bounce back in footfall after the Jubilee weekend boost
The UK experienced a 3.9% decline in footfall last week (20 June – 26 June 2022) compared to the average of the previous four weeks due to RMT Union Rail Strikes, according to British Retail Consortium (BRC) Sensormatic IQ data. Thursday was the worst performing day with a 13.7% decline in footfall, followed by Tuesday at 9.4%. High streets saw the weakest performance at a 3.3% decline, and London specifically experienced a 1.4% decrease during the strike week compared to the average of the previous four weeks. Additionally, London footfall dropped by 7.4% on Tuesday, impacted by both rail and tube strikes. Retailers hope for a bounce back in footfall after the Jubilee weekend boost, as they believe shopper numbers will even out once the strike ends.
Factuality Level: 10
Factuality Justification: The article provides accurate information from a reliable source (British Retail Consortium) and presents objective data about the impact of rail strikes on footfall in the UK. It includes quotes from experts to provide context and analysis without any personal opinions or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of rail strikes on UK footfall and offers insights from experts in the field. It stays on topic and supports its claims with data from Sensormatic IQ data. However, it could benefit from more analysis or discussion of long-term trends or potential solutions for businesses affected by such disruptions.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the impact of rail strikes on UK footfall and its effect on retail businesses, which can have financial implications for companies in the sector.
Presence Of Extreme Event: Yes
Nature Of Extreme Event: Financial Crisis
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The extreme event mentioned is the RMT Union Rail Strikes, which disrupted travel and negatively impacted retail footfall and businesses in the UK. The economic consequences are minor as it’s a temporary issue and expected to bounce back after the strike ends.
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