Even on Super Saturday—the final Saturday before Christmas Day and typically the peak shopping day of the year—footfall was just 4.1 per cent higher than the previous Saturday’s figure, and only 0.9 per cent higher YoY.
Black Friday footfall was 5.5 per cent higher YoY, indicating consumers grabbed the opportunity to buy discounted gifts.
“The disappointing results, which come on the same day that we have learnt that the economy failed to grow between July and September, clearly reflect the ongoing cost pressures faced by households following a prolonged period of very high inflation,” Diane Wehrle, chief executive of Rendle Intelligence and Insights, was quoted as saying by domestic media reports.
The British Retail Consortium (BRC), meanwhile, foresees a spending squeeze in January. Public confidence in the state of the economy dropped in December, falling eight points to minus 27, BRC-Opinium figures show.
ALCHEMPro News Desk (DS)
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