High streets footfall declined 11.6 per cent in October (Yo3Y), 0.3 percentage points better than last month's rate and an improvement on the 3-month average decline of 11.9 per cent. Retail parks saw footfall decrease by 3.7 per cent (Yo3Y), 1.1 percentage points worse than last month's rate but an improvement on the 3-month average decline of 4.3 per cent.
As for the shopping centres, their footfall declined by 21.8 per cent (Yo3Y), 0.9 percentage points better than last month's rate and above the 3-month average decline of 22.2 per cent, as per the data.
England again saw the shallowest footfall decline of all regions at 11.4 per cent, followed by Scotland at 12 per cent and Northern Ireland at 13.1 per cent. Wales saw the steepest decline at 16.1 per cent.
On a YoY basis, total footfall increased by 2 per cent; high streets footfall increased by 7.6 per cent and shopping centres by 2.8 per cent. Retail parks decreased by 3.2 per cent YoY.
Helen Dickinson OBE, chief executive of the British Retail Consortium, said: “Footfall took a stumble in its slow return to pre-pandemic levels as rising prices and tightening purse strings meant many fewer consumers made trips to the shops. October marked the first full month of higher energy bills for many families after the price cap rose 26 per cent, reducing household discretionary spending. Rail strikes also did no favours, with most cities seeing a fall in footfall; that could be exacerbated by further strike action.
“The next few months will be crucial, as the Christmas spending period begins. Households are unlikely to see the cost-of-living crisis ease any time soon, and retailers are finding it harder to shoulder the mounting supply chain pressures. To support the public, government should find ways to help ease the cost pressures which are pushing prices up – not least the £800 million increase in business rates bills that will hit retailers, and in turn their customers, in 2023.”
Andy Sumpter, retail consultant EMEA for Sensormatic Solutions, commented: “While Halloween sales may have given some respite to the high street, shoppers spooked by the rising cost-of-living meant that the reality of growing consumer caution played out in October’s footfall figures.
As consumers and retailers both adapt to what’s being coined the ‘new abnormal’, in which economic and political uncertainty creates new—and increasingly frequent—curveballs, retailers will be hoping to minimise disruption to safeguard their Christmas performance. Furthermore, with planned postal strikes in November risking disruption to Black Friday deliveries, retailers will be encouraging shoppers to head in store, rather than risking delayed deliveries when shopping online for Black Friday deals."
ALCHEMPro News Desk (KD)
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