Despite a tumultuous start to August marked by civil unrest, UK retail footfall showed unexpected resilience, according to the latest BRC-Sensormatic IQ Footfall Monitor. The data, covering the period from 28 July to 24 August 2024, reveals a nuanced picture of consumer behaviour in the face of social and economic challenges.
Total UK footfall experienced a marginal decline of 0.4 percent year-on-year (YoY) in August, a significant improvement from July's 3.3 percent decrease. This near-stabilisation occurred despite early-month disruptions, suggesting a robust recovery in the latter half of August.
Looking at the figures by sector, high street footfall decreased by 0.3 percent YoY, improving from July's 2.7 percent decline. Retail Parks saw an increase of 2.6 percent YoY, rebounding from a 0.8 percent decrease in July. Shopping centres saw footfall drop by 1.8 percent YoY, an improvement from July's 3.9 percent decline.
The data also highlighted significant regional disparities with Northern Ireland leading with a 1.4 percent YoY increase and Scotland following with a 0.7 percent rise. England saw a slight decrease of 0.5 percent and Wales experienced the largest decline at 1.8 percent.
Helen Dickinson, Chief Executive of the British Retail Consortium, noted the initial impact of civil unrest on footfall, particularly in high streets and shopping centres. She emphasised the need for government intervention, stating, "The upcoming budget is an opportunity to move forward with the plan to fix the broken business rates system which acts as a brake on retail investment."
Andy Sumpter, Retail Consultant EMEA for Sensormatic Solutions, highlighted the sector's resilience: "Despite the unrest at the beginning of the month, a strong footfall performance in the second half of August, helped by an easing of price inflation, fair weather and a boost from school and bank holiday trade, saw year-on-year shopper traffic rise to its highest level since July 2023."
Looking Ahead
The retail sector's ability to rebound from early-month disruptions suggests an underlying consumer confidence. However, the uneven regional performance and ongoing economic pressures underscore the complex challenges facing UK retailers. As the sector approaches the crucial holiday shopping season, all eyes will be on whether this resilience can translate into sustained growth.
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