Despite the weeks marked by summer getaway and recent unrest, retail footfall failed to falter and even rose slightly as compared to last month, states a new report released today (29).
According to MRI Software data, retail footfall in general failed to falter and rose by +0.9 per cent from the month before in UK’s retail destinations. Comparing against 2023 levels, footfall rose ever so slightly by +0.1 per cent in all UK retail destinations.
This aligns with historical trends witnessed pre-pandemic where high streets would experience a lull in footfall as many people took vacations abroad in August and it appears this trend is re-emerging signalling the return to normal which has been consistent throughout the year.
As anticipated, the month started on a weak note with the first two weeks averaging a decline of -2.2 per cent week on week. This was likely influenced by the school summer holidays and many people choosing to travel abroad, combined with protests and riots impacting much of the UK with high streets feeling the full force.
The latter part of the month witnessed an uplift in activity as normality resumed. However, factors likely contributing to a bounce back in high street footfall probably came in the form of warmer weather.
The true impact of international vacations was evident with weekday footfall in all UK retail destinations down by -0.8 per cent year on year whereas weekend footfall rose by +1.2 per cent. This may well mark the return of holiday goers and events in towns and cities driving footfall as UK high streets experienced a +2.7 per cent rise in weekend footfall year on year.
As preparations for autumn get underway, MRI Software’s weekly ‘Insights from the Inside’ poll revealed that 37 per cent of retailers have seen social channels such as TikTok and Instagram support a boost in their in-store sales which highlights the positive impact on using such methods to drive in-store footfall.
MRI Software said retailers can leverage the platforms to promote new in-store arrivals and in-store promotions to gain traction as we head into the final, yet busiest, part of the year. The back-to-school rush will also be prominent in the coming days. However, the greatest impact for retail destinations in September could be the mandated return to office which is due to be enforced by many businesses nationwide.
This shift may lead to an uplift in weekday footfall as more people return to offices on a regular basis and offers retailers a chance to capitalise by preparing accordingly in terms of staffing and asset maintenance to ensure a seamless experience for the customer.
Consumer confidence, according to GFK, remained stable in August however the forecast for personal finances over the next 12 months rose by three points which signals optimism for the sector as we head into the busiest period of the year.
