Office Return Drives High Street and Shopping Centre Visits Despite Challenges

  • Weekday footfall increased by 17.2% in high streets and 12.4% in shopping centers in January compared to the previous year.
  • Footfall in retail parks rose by 10.8% overall in January, despite rail strikes affecting the first week.
  • High street footfall was up +3.8% from the second to fourth week of January, showing resilience amidst challenges.

A return to offices in January has boosted weekday footfall, according to Springboard, despite rail strikes impacting the first week of the month. High street footfall increased by 17.2% annually on weekdays and 10.3% at weekends, while shopping centre footfall rose by 12.4% on weekdays but only 4.8% at weekends. This contrasts with December’s figures where weekend footfall was higher. Despite the challenges, retail parks saw a +10.8% increase overall in January. Springboard noted that high street and shopping centre footfall were driven by office returns in town centers. However, compared to 2019, footfall remains lower in these areas.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the increase in footfall due to a return to offices, cites specific data from Springboard, and includes relevant quotes from an expert source. However, it could be improved by providing more context on the rail strikes’ impact on retail businesses and the cost of living crisis.
Noise Level: 6
Noise Justification: The article provides relevant information about the impact of returning to offices on footfall but could benefit from more analysis or context on the broader economic implications and potential long-term trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail and hospitality businesses
Financial Rating Justification: The article discusses the impact of workers returning to offices on footfall in high streets and shopping centres, which affects retail and hospitality businesses.
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.

Reported publicly: www.retailsector.co.uk