Footfall Gap from Pre-Covid Levels Widens, Recovery Slows Down

  • UK retail footfall declined by 7.5% in the week after half-term holiday
  • Footfall decline more significant than pre-Covid levels
  • High streets and shopping centres saw largest drops (-10.1% and -7.7%)
  • Retail parks experienced a smaller drop (-1.8%) compared to previous week (+4.2%)
  • Coastal and historic towns footfall dropped by -24% and -15.6%
  • Footfall in Central London declined by -13.1%
  • Wales and Northern Ireland were the only regions with increases (+0.4% and +7.2%)

UK retail footfall declined by 7.5% in the week following the half-term holiday, according to Springboard. The drop was more significant than pre-Covid levels, with high streets and shopping centres experiencing the largest declines (-10.1% and -7.7%). Retail parks saw a smaller decrease (-1.8%) compared to the previous week’s rise (+4.2%). Coastal and historic towns experienced footfall drops of -24% and -15.6%, while Central London declined by -13.1%. Only Wales (+0.4%) and Northern Ireland (+7.2%) saw increases. Diane Wehrle, insights director at Springboard, noted that footfall dipped after the holiday as it was more severe than pre-Covid levels, but the uplift from 2021 increased last week.

Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about changes in UK retail footfall based on data from Springboard. It presents clear comparisons between different types of destinations and geographies, as well as a balanced perspective from the insights director at Springboard.
Noise Level: 3
Noise Justification: The article provides relevant information about changes in UK retail footfall and compares it to pre-pandemic levels, offering insights into the impact of school holidays on footfall trends. It also highlights regional differences and offers a balanced perspective with some positive notes about recovery.
Financial Relevance: Yes
Financial Markets Impacted: Retail and related companies
Financial Rating Justification: The article discusses changes in footfall across various retail destinations, which can impact the performance of these businesses and potentially affect their financial results. This information is relevant to investors and stakeholders in the retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but the decline in footfall indicates a minor impact on retail destinations due to schools returning after the half term holiday.

Reported publicly: www.retailsector.co.uk