Footfall Down Across UK Regions Amidst Brexit Uncertainty
- Footfall continues to decline in September
- Scotland and Northern Ireland see a 3.3% drop in footfall
- Northern England sees 5.5% less retail visitors
- Midlands, south west England and Wales and London and the south east experience decreases of 5.1%, 8.2% and 1.4% respectively
- Month-on-month footfall down 7.1% compared to August
- Ipsos predicts a 1% increase in October
- Clothing and shoe sector delivers strongest footfall growth at +0.1% compared to 2017
- General/variety stores struggle with only 28.3% improving conversion rate
- Retailers expected to boost Christmas orders, but cautious of overstocking due to Brexit uncertainties
The latest Ipsos Retail Performance Weathermap reveals a continued decline in footfall across the UK in September, with Scotland and Northern Ireland experiencing a 3.3% drop and northern England seeing 5.5% fewer retail visitors. The Midlands, south west England and Wales, and London and the south east witnessed decreases of 5.1%, 8.2%, and 1.4% respectively. Month-on-month footfall fell by 7.1% compared to August. Ipsos predicts a 1% increase in October, citing new ranges, attractive prices, and growth in real earnings as factors encouraging shoppers. The clothing and shoe sector showed the strongest performance, growing by 0.1% compared to 2017. General/variety stores struggled with only 28.3% improving their conversion rate. Retailers are expected to boost Christmas orders, but must be cautious of potential overstocking due to Brexit uncertainties.
Factuality Level: 8
Factuality Justification: The article provides accurate information about footfall trends in different regions and sectors, cites a source (Ipsos Retail Performance), includes expert commentary from Dr. Tim Denison, and discusses potential reasons for the trends. However, it does not include any irrelevant or misleading information, sensationalism, redundancy, opinion masquerading as fact, invalid arguments, logical errors, inconsistencies, fallacies, or incorrect conclusions.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall trends in different regions and sectors, but it lacks a comprehensive analysis or exploration of the underlying causes and potential long-term consequences of these trends. It also contains some repetitive information and could benefit from more evidence to support its claims.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses footfall decline and its impact on various regions, affecting retail businesses and their sales. It also mentions the influence of factors like consumer spending and Brexit uncertainty on the industry.
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.
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