High Street Boosted by School Breaks and Coastal Towns
- High street footfall increased by 4.8% during summer holidays
- Coastal towns saw a 2.3% increase in footfall
- Retail parks and shopping centres experienced declines
- Footfall in high streets up from the week before in all UK regions
- Increase in footfall ranged from 1.7% in Wales to 7.2% in the East
- Decline in retail parks ranged from 4.2% in Wales to 7.9% in the East Midlands
- Scotland saw a modest increase in both retail parks and shopping centres
- Footfall last week was 4% higher than 2022
- Gap between footfall and 2019 narrowed to 9.1% from 10.8% the previous week
The latest data from MRI Springboard reveals a 0.7% increase in overall UK retail footfall, with high streets experiencing a 4.8% rise. Coastal towns saw a 2.3% boost, while retail parks and shopping centres faced declines of 4.4% and 2.8%, respectively. Comparing to the same week in 2022, this year’s results were more favorable as footfall dropped from the previous week in all three types last year. High street footfall increased across all UK regions, ranging from 1.7% in Wales to 7.2% in the East. Retail parks saw declines from 4.2% in Wales to 7.9% in the East Midlands, and shopping centres dropped by 2% in North and Yorkshire to 6.7% in Wales. Scotland witnessed a slight increase in both retail parks and shopping centers at 0.9% and 1.1%, respectively. MRI Springboard’s Diane Wehrle noted that while the overall rise was modest, high streets benefited from school holidays and coastal towns, with double-digit rises on four days. Footfall in historic towns also saw a slight uplift above the UK average for high streets, but city centers fell below it. The week’s footfall was supported by Sunday, Monday, Wednesday, and Saturday increases.
Factuality Level: 9
Factuality Justification: The article provides accurate information about the increase in UK retail footfall, citing specific data and insights from MRI Springboard. It also includes comparisons to previous years and breaks down the results by destination type and geographic region. The author presents a balanced view of the situation without any clear signs of bias or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about the changes in footfall across different types of UK retail destinations and offers insights into the reasons behind these changes. However, it could benefit from more analysis or context to make it a higher quality piece.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses changes in footfall across different types of retail destinations, which can impact the performance and revenue 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 mention of an extreme event in the text.
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