Following a brief surge before the second lockdown, footfall in city centers across the UK plummeted significantly, painting a grim picture for retailers. Data provided by Springboard, a leading tracking company, outlined the stark impact of the new restrictions on high streets, retail parks, and shopping centers. The overall footfall dropped by 15.4% compared to the previous week, with shopping centers experiencing the most substantial decline due to the closure of non-essential stores. Retail parks, on the other hand, saw a more moderate decrease of 9.7%, thanks to their essential stores like supermarkets.
The swift decline in footfall from Thursday to Saturday resulted in an average annual decrease of 61.6% across all retail destinations, underscoring the economic strain faced by businesses. Surprisingly, Scotland saw a marginal increase of 0.9%, while Wales reported a 10.9% rise despite being under lockdown. In contrast, Northern Ireland witnessed a decline of 3.6%, indicating varying impacts across different regions. The rush of shoppers in the days leading up to the lockdown was evident, with an average increase of 11.7% as consumers hurried to make essential purchases, particularly on Tuesday and Wednesday.
Although the effects of the lockdown on retailers were not as severe as the initial phase earlier in the year, major city centers like Central London continued to struggle with a 56.2% decrease in footfall. Regional cities also faced challenges, recording a 52.4% decline. However, the slightly more lenient restrictions this time allowed for a more active retail environment, offering some relief to businesses in the midst of uncertainty.
For further insights into the impact of the lockdown on retail, you can read more here. Additionally, to explore strategies for retailers to navigate through challenging times, click here.
