Oxford Street Sees 24% Increase in July

  • Oxford Street footfall increased by 24% in July compared to June
  • UK-wide footfall up 16% in July compared to June
  • Leeds and Brighton also saw significant increases
  • Hot weather and Women’s Euros contributed to the rise
  • Retailers facing challenges despite increased footfall
  • Government support may be needed for retail sector

Footfall on London’s Oxford Street surged by 24% in July compared to June, according to RSM UK’s analysis of Datscha data. The UK as a whole experienced a 16% increase in footfall during the same period. Leeds and Brighton also saw significant rises at 26% and 19%, respectively. Factors contributing to this growth include hot weather, school holidays, and major events like the Women’s Euros hosted at Wembley Stadium. Despite rising energy prices, inflation, and the cost-of-living crisis, retailers are managing to attract more customers. However, Jacqui Baker of RSM UK warns that the sector faces a challenging period ahead due to upcoming energy bill increases in October. She urges the government to provide support for retailers.

Factuality Level: 8
Factuality Justification: The article provides accurate information about footfall levels in various cities, factors contributing to the increase, and expert opinions on the future of the retail sector. It cites specific data sources and includes relevant context such as external pressures on consumers.
Noise Level: 3
Noise Justification: The article provides relevant information on footfall trends in various cities and offers insights from an expert in the industry. It also discusses potential challenges facing the retail sector due to external factors such as inflation and energy prices. However, it lacks a more in-depth analysis of long-term trends or possibilities and does not delve into antifragility or accountability.
Financial Relevance: Yes
Financial Markets Impacted: Retail and hospitality industries
Financial Rating Justification: The article discusses footfall levels in various cities, which can impact the performance of retail and hospitality businesses, and mentions consumer confidence, inflation, and cost-of-living crisis, all of which are financial topics.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk