UK's retail footfall drops by 9.8% Yo3Y, rises by 8% YoY in Sept 2022

Retail parks saw footfall decrease by 2.5 per cent Yo3Y, 1.6 percentage points better than last month's rate and an improvement on the three-month average decline of 9.3 per cent.

Shopping centre footfall declined by 22.7 per cent Yo3Y, the same as last month's rate and above the three-month average decline of 23 per cent.

Footfall on high streets declined by 11.9 per cent in the month Yo3Y, 1.7 percentage points better than last month's rate and an improvement on the three-month average decline of 13 per cent.

On a YoY basis, footfall rose by 12.9 per cent in high streets, 0.4 per cent in retail parks and 17.3 per cent in shopping centres.

England again saw the shallowest footfall decline of all regions at minus 7.9 per cent, followed by Wales at minus 8.7 per cent. Scotland and Northern Ireland saw the joint steepest decline at minus 13.4 per cent.

“These figures belie the collapse in consumer confidence which has resulted in falling sales volumes throughout the year. Meanwhile, soaring cost inflation is leading to upwards pressure on prices. The recent mini budget failed to provide retailers with clarity on the future of business rates, already a massive cost. Without action, retailers could face a 10 per cent rise in their rates bill—equal to an additional £800 million across the industry,” BRC chief executive Helen Dickinson said in a statement.

Sensormatic IQ is an intelligent operating platform designed to provide visibility into retail operations and shopper experience. The survey covered the five weeks from August 28 to October 1.

Fibre2Fashion News Desk (DS)