Black Friday Sale Fails to Boost Struggling Retailers
- UK high street footfall drops by 7.4% year-on-year in October
- South west England and Wales see highest decline in store visits
- Average weekly footfall down 2.9% compared to September
- Black Friday sale not expected to reverse retailers’ fortunes
- UK one of the few countries with year-on-year gain in footfall in 2017 (0.95%) but forecasts predict decline in 2019
- Christmas trading period crucial for retailers
- Retailers need to focus on celebrating festive season, not just bargains
October saw a significant drop of 7.4% in UK store visits compared to the previous year, according to Ipsos Retail Performance’s Retail Traffic Index (RTI). The south west England and Wales experienced the highest decline, followed by the Midlands with a decrease of 11.3%. Despite the UK being one of the few countries to see a year-on-year gain in footfall (0.95%) in 2017, the upcoming Black Friday sale is not expected to reverse retailers’ fortunes due to waning consumer confidence and online deals. The RTI is based on data from over 4,000 non-food stores across the UK.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the decline in store visits and footfall in the UK, citing a reputable source (Ipsos Retail Performance’s Retail Traffic Index) and includes relevant details such as regional differences and the impact of Black Friday. It also quotes an expert for additional insight into the situation.
Noise Level: 3
Noise Justification: The article provides relevant information about a decline in store visits and footfall in the UK, with specific data on regional differences. It also includes insights from an expert on the upcoming Christmas trading period and the impact of Black Friday. However, it lacks analysis or exploration of long-term trends or possibilities, accountability, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses a significant drop in store visits and footfall in the UK, which can impact retail companies’ sales and potentially affect their financial performance. It also mentions Black Friday sales and the upcoming Christmas trading period, both of which are relevant to the retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article, but it discusses a significant decrease in store visits and footfall in the UK retail sector.
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