High Street Footfall Improves as Shopping Centres and Retail Parks Lag Behind

  • UK retail footfall down by 20% compared to 2019 levels in January
  • High streets saw an improvement in footfall in the second half of the month
  • Footfall in shopping centres and retail parks did not see a noticeable uplift
  • Hybrid work and coworking spaces contribute to high street recovery

UK retail footfall dropped by 20.8% compared to 2019 levels in January, according to Springboard. High streets saw a noticeable improvement in the second half of the month, with footfall strengthening from -28.9% below 2019 in the first two weeks to -22.4% by the end of the month. Shopping centres and retail parks did not experience a similar uplift, with gaps widening from -24.9% to -25.4% and -2.2% to -5.8%, respectively. The growth of coworking spaces in smaller high streets and hybrid work models contributed to the recovery. Central London, regional cities, and market towns also saw a quarterly increase in footfall by the month’s end. Springboard’s Daine Wehrle noted that while shopping centres and retail parks did not see an uptick, the high street’s progress may create a ripple effect on other physical destinations.

Factuality Level: 8
Factuality Justification: The article provides accurate information about footfall trends in UK retail destinations based on data from Springboard, with clear comparisons between different types of locations and time periods. It also includes expert commentary from Daine Wehrle, providing insight into potential future effects on other retail destinations.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall trends in UK retail destinations and offers some insights into the reasons behind the changes. It also includes expert commentary from Daine Wehrle. However, it could benefit from more analysis or context on the long-term implications of these trends and potential solutions for struggling shopping centers and retail parks.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the decline in footfall in UK retail destinations, specifically high streets, shopping centers, and retail parks, which can impact the financial performance of these businesses and potentially affect the overall health of 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 article, but it discusses a decline in UK retail footfall and its impact on different types of destinations.

Reported publicly: www.retailsector.co.uk