Most Brits visited a retail destination during October and November 2024, shows a recent report, highlighting the resilience of physical retail.
According to the latest Consumer Pulse Report by MRI Software, in partnership with Retail Economics, 88 per cent of the UK population visited a retail destination during October and November 2024 — an increase of 86.1 per cent since May 2024. The report also reports an average of 2.2 visits per person per month.
The latest survey reveals that 31 per cent of office workers play a key role in high street retail, with visits peaking during lunch hours.
33 percent of office workers choose to visit after 5pm on weekdays, particularly Tuesdays and Wednesdays which are popular days to venture into the office.
As return to office becomes more widespread, the retail sector has an opportunity to maximise engagement and sales by leveraging these insights and presenting itself as a convenient shopping option for the hybrid workforce.
The under-35 demographic is increasingly motivated by experiential retail opportunities, such as dining and leisure. In November, this age group averaged 9.5 visits to physical retail destinations — more than double the frequency of those aged 55 and over. The rise of social commerce, which enables shoppers to make purchases within social media apps such as TikTok and Instagram, is likely influencing footfall into physical retail destinations and creating opportunities for in-store experiences.
“The latest findings depict a retail sector that continues to adapt and remain relevant as consumer behaviours shift,” commented Jenni Matthews, Marketing & Insights Director, MRI Software.
“With 88 per cent of the UK population visiting retail destinations and under-35s driving experiential trends, it’s clear that physical retail remains a powerful touchpoint for engagement.
“Retailers have an incredible opportunity to leverage these insights—not just to meet consumer expectations, but to exceed them by creating vibrant, immersive destinations that align with changing consumer behaviours.”
Retail leaders are prepared for a challenging start to 2025 following the Autumn Budget, bringing with it financialpressures and rising costs.
Consumers are already erring on the side of caution, as 51 per cent of shoppers remain concerned about the rising cost of living over the next six months. This figure is down from 60 per cent in May 2024, suggesting a gradual improvement in consumer confidence.
However, affordability remains top of mind, with shoppers prioritising value and cautious spending.
