High Streets Outperform Shopping Centres as Retail Struggles Continue
- Footfall gap widened to -11.1% in November compared to 2019
- High streets experienced a -12.4% decrease, shopping centres saw -17.3%
- Retail parks had a -3% decrease
- Black Friday boosted footfall by +4.3%, but gap would have been lower without it at +2.5%
- Smaller malls hit harder due to store closures and rationalization
- Footfall expected to be muted in the weeks leading up to Christmas
The gap in footfall from 2019 widened to -11.1% in November, with high streets experiencing a -12.4% decrease and shopping centres seeing a more significant -17.3% drop, according to Springboard’s latest figures. In the absence of Black Friday, the gap would have likely been even wider at around -14%. The uplift in November was +4.3%, but without Black Friday, it would have been only +2.5%. Smaller malls were hit harder due to store closures and rationalization efforts. Springboard predicts a lull in footfall in the weeks leading up to Christmas as shoppers wait for last-minute discounts.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about footfall statistics and offers insights into the impact of store closures and Black Friday on retail performance. It also makes predictions based on historical patterns. The information is relevant to the main topic and does not include sensationalism or personal opinions presented as facts.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall trends and offers some insights into the impact of store closures and Covid-19 on shopping centers. However, it lacks a comprehensive analysis or exploration of long-term consequences and does not offer actionable solutions for readers.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses footfall data and its impact on high streets, shopping centres, and retail parks, which are all related to the retail sector. This information can affect companies’ performance and financial markets as it indicates consumer behavior and spending trends.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.
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