Lockdown 3 and Online Sales Impact Assessed by Springboard Report
- UK retail footfall was 31% lower in 2021 compared to 2019
- Retail parks showed more resilience than high streets and shopping centers
- Online sales averaged at 30% of total retail sales in 2021
- Lockdown 3 had a significant impact on footfall across all destination types
- Springboard predicts continued migration to online sales in 2022, but some shift back to stores as Covid risks decrease
A recent report from retail analysts Springboard reveals that UK retail footfall in 2021 was down 31% compared to 2019, with retail parks showing more resilience than high streets or shopping centers. The report identifies the three-month lockdown at the start of the year as having a significant impact on the sector’s recovery from 2020. Online sales averaged at 30% of total retail sales in 2021, increasing during Lockdown 3 to 35.7%, but falling back to 28.1% between April and December. Springboard predicts a continued migration to online shopping in 2022, with some shift back to stores as Covid risks decrease.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the impact of COVID-19 on UK retail destinations, including specific data and analysis from Springboard’s report. It presents relevant statistics and insights from experts in the field, and discusses trends and predictions for the future of retail in a post-pandemic world.
Noise Level: 6
Noise Justification: The article provides relevant information about the impact of COVID-19 on UK retail destinations and offers some insights into consumer behavior and trends. However, it could benefit from more in-depth analysis and exploration of long-term consequences or solutions for retailers to adapt to the changing landscape.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector, high streets, shopping centres, and retail parks
Financial Rating Justification: The article discusses the impact of the COVID-19 pandemic on UK retail destinations, including footfall and online sales, which affects companies in these sectors.
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 the retail sector was severely impacted by the COVID-19 pandemic and its related lockdowns.
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