44.7% Decrease in March Footfall
- UK retail footfall decreased by 44.7% in March due to lockdown
- Record decline for the industry during Covid-19 pandemic
- Average decline of 83.2% during lockdown weeks
- High streets saw a 41.8% year on year decline
- Shopping centres fared worse than retail parks
- Convenience stores saw rise in popularity
- Retail parks sheltered by wider open spaces and essential retailers
The UK retail footfall dropped by a record 44.7% in March due to the mandatory lockdown, according to the BRC-ShopperTrak footfall monitor. In the three weeks prior to the lockdown (23rd March), the average decline was 17.7%. However, during the two weeks of lockdown, UK footfall saw an average decrease of 83.2%. High streets experienced a 41.8% year on year drop, while shopping centres faced steeper declines. Convenience stores witnessed increased popularity, and retail parks saw a 23.5% decline due to the presence of essential retailers and wider open spaces. Helen Dickinson, BRC’s chief executive, stated that footfall dropped as people stayed home to avoid Covid-19 risks, with lockdown measures causing over 80% decrease compared to the previous year.
Factuality Level: 10
Factuality Justification: The article provides accurate information from a reliable source (BRC-ShopperTrak footfall monitor), presents data in a clear and concise manner, and includes relevant quotes from an expert in the field (Helen Dickinson). It does not contain any digressions or irrelevant details, nor does it include exaggerated reporting or personal perspective presented as fact. The information is based on research and statistics, making it highly factual.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of the Covid-19 pandemic on UK retail footfall and offers some comparisons between different types of locations. It also includes a quote from an expert in the field to support its claims. However, it could benefit from more analysis or context on how this decline might affect the industry long-term or what measures businesses are taking to adapt.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses the significant decrease in UK retail footfall, particularly in high streets and shopping centers, which can impact companies within these sectors and potentially affect their financial performance. This information is relevant to investors and stakeholders in the retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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