Highest Month-on-Month Increase Since 2009 Despite Economic Challenges

  • Highest month-on-month increase in footfall since 2009
  • Annual rise in footfall exceeds previous record from 2013
  • Gap to pre-pandemic levels narrowed to -8.6%
  • Evening trips boost food and beverage operators
  • High street footfall post 5pm rose by +6.3%

Despite high inflation and rising interest rates, UK retail footfall experienced a significant increase in June. Springboard reported the highest month-on-month and annual increases since 2009. Footfall rose by +3.7% from May to June and +4.2% compared to last year. The gap from pre-pandemic levels narrowed to -8.6%, down from -10.8% in May. Seasonal factors, such as better weather and consumers visiting food and beverage establishments in the evening, contributed to the surge. Diane Wehrle noted that some consumers are shopping for bargains while others with fixed-rate mortgages continue to shop before their rates rise.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the increase in footfall in UK retail destinations for June, citing data from Springboard and including relevant details such as seasonal factors and consumer behavior. It also includes a balanced perspective on the impact of inflation and interest rates.
Noise Level: 3
Noise Justification: The article provides relevant information about UK retail footfall and its increase despite high inflation and rising interest rates. It also offers insights into consumer behavior during this time. However, it could benefit from more analysis of the underlying reasons for this trend and potential long-term consequences.
Financial Relevance: Yes
Financial Markets Impacted: UK retail and food and beverage sectors
Financial Rating Justification: The article discusses the impact of inflation and interest rates on consumer activity in UK retail destinations, which affects these sectors’ financial performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
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