Springboard’s Predictions for the Holiday Season

  • Footfall expected to decline in September and October
  • November footfall to be lower than last year
  • December footfall to increase by +4.2% compared to 2021
  • Gap from 2019 footfall level to widen to -18%
  • Impact of energy costs and potential unemployment affecting demand

Springboard has forecasted a decline in UK retail footfall by -4.9% in September, -2.5% in October, and a slight increase of +0.3% in November. The overall gap from the 2019 footfall level is expected to widen to -18%, the largest since February 2022. Diane Wehrle, Insights Director at Springboard, attributes this decline to consumer fears over rising energy costs and potential unemployment affecting demand. However, footfall is predicted to rise by +4.2% in December compared to 2021, with shopping centres seeing a +10% increase due to their range of products for Christmas gifts.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Springboard’s forecast on UK retail footfall trends for September, October, November, and December. It includes relevant data and insights from Diane Wehrle, the Insights Director at Springboard, explaining the factors affecting these trends such as consumer behavior, inflation, and potential unemployment rates.
Noise Level: 3
Noise Justification: The article provides relevant information about footfall trends and factors affecting it, such as energy costs and consumer behavior during Black Friday and Christmas shopping. It also offers some insights into how different types of retail destinations may be affected differently. However, the language used is somewhat repetitive and could benefit from more concise phrasing.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector and consumer spending
Financial Rating Justification: The article discusses footfall trends in UK retail destinations, which can impact retailers’ revenue and potentially affect their stock prices. It also mentions factors such as energy costs and inflation that may influence consumer behavior and spending habits.
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 article discusses a potential decline in footfall and its impact on retail destinations due to rising energy costs and potential unemployment rates.

Reported publicly: www.retailsector.co.uk