Lockdown Impact on UK Retail Sector

  • Retail footfall decreased by 83% over Easter weekend compared to last year
  • Footfall increased on Saturday due to warm weather but dropped on Monday due to cooler weather
  • March saw an unprecedented decline in footfall with a 41.3% drop overall
  • Retail parks experienced less decline than high streets and shopping centers
  • Diane Wehrle predicts social distancing will continue as the new normal post-pandemic

Retail footfall in the UK dropped by a staggering 83.1% over the Easter weekend compared to last year, according to Springboard’s data and intelligence group. The decline was attributed to the public adhering to government lockdown guidelines and staying at home despite warm weather on Saturday. However, Monday saw a 24.2% drop due to cooler temperatures. Retail parks experienced less decline than high streets and shopping centers, as they offer more space for social distancing. Diane Wehrle, insights director at Springboard, predicts that social distancing will continue post-pandemic, making retail parks a preferred destination. The month of March saw an average annual drop of 61.5% in the final three weeks.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the decline in footfall across UK retail destinations due to the lockdown measures taken because of the pandemic. It cites data from Springboard and includes expert commentary on potential future trends.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of COVID-19 on UK retail footfall, but it could benefit from more analysis or context beyond just reporting the data.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the significant decline in footfall at UK retail destinations due to the lockdown measures taken because of the coronavirus pandemic, which has a direct impact on the financial performance of retail businesses and may affect the overall economy.
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 the significant impact of the COVID-19 pandemic on UK retail footfall and its effect on non-essential stores.

Reported publicly: www.retailsector.co.uk