Severe weather and discounts affect high street traffic
- Retail footfall dropped 3.4% year-on-year due to wet weather in November
- High street footfall declined by -4.3%
- Retail Park footfall decreased by -1.8%
- Shopping centre footfall fell by -3.0%
- Heavy rain deterred shoppers from visiting retail destinations
- Black Friday discounts affected consumer behavior
- Footfall in shopping centres dropped by -5.2% in the last week of November
November retail footfall declined by 3.4% year-on-year due to wet weather, particularly affecting high streets with a drop of 4.3%. Retail Park footfall decreased by 1.8%, while shopping centre footfall fell by 3.0%. Springboard’s Diane Wehrle attributes the decline to both weather and Black Friday discounts influencing consumer behavior. With many consumers waiting for big discounts, high street footfall dropped more than retail parks and shopping centres in the last week of November.
Factuality Level: 8
Factuality Justification: The article provides accurate information from Springboard’s data on retail footfall and includes relevant quotes from Diane Wehrle explaining the reasons behind the drop in footfall. It presents a clear explanation for the decrease in high street, retail park, and shopping centre footfall, as well as the impact of Black Friday discounts.
Noise Level: 3
Noise Justification: The article provides relevant information about the impact of weather and Black Friday on retail footfall, but does not offer much analysis or actionable insights beyond what is already stated in the report.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses the impact of weather and Black Friday discounts on retail footfall, which can affect sales and revenue for retail companies, thus having an impact on financial markets related to the retail industry.
Presence Of Extreme Event: Yes
Nature Of Extreme Event: Natural Disaster (floods)
Impact Rating Of The Extreme Event: Moderate
Extreme Rating Justification: The severe wet weather deterred shoppers and negatively affected retail footfall, causing a 3.4% year-on-year drop in overall retail footfall.
www.retailsector.co.uk