While Black Friday was a roaring success for online retailers in the UK, the picture was quite different for brick-and-mortar stores. According to data from Springboard, footfall in physical stores continued to decline over the weekend. On Black Friday alone, footfall decreased by 5.4% compared to the previous year, with similar drops observed on Saturday (-5.6%) and Sunday (-4.3%). In contrast, online transactions skyrocketed by 46% up until 4:00 PM on Black Friday, as reported by Loqate/GBG.
Shopping centers bore the brunt of the decrease in footfall, experiencing an 8.3% drop on Friday that persisted throughout the weekend. Springboard analysts suggest that this decline is likely due to the presence of major chain stores in shopping centers, many of which offer strong online options and free delivery, reducing the need for in-person shopping visits. Furthermore, the lack of dining options in shopping centers makes it difficult for shoppers to combine shopping with eating out, potentially contributing to the decline.
High streets fared slightly better, with a 4% drop in footfall on Friday and similar declines over the weekend. While there was a small increase in footfall on Black Friday compared to the previous Friday, the growth was short-lived, with Saturday maintaining similar footfall levels and Sunday seeing only a 2.2% increase.
Looking towards Cyber Monday, Springboard researchers are cautious about expecting a significant boost in footfall. Data from previous years shows a consistent decrease in footfall on Cyber Monday compared to Black Friday, indicating a preference for online shopping on this day as well.
The ongoing trend of declining footfall in physical stores during major shopping events like Black Friday and Cyber Monday underscores the challenges faced by brick-and-mortar retailers in the UK. As consumers increasingly favor the convenience and competitive deals offered by e-commerce, traditional retailers must find new ways to attract shoppers to their physical stores to stay afloat in the ever-evolving retail landscape.
For more insights on the impact of online shopping on brick-and-mortar stores, check out this article. Additionally, to learn about strategies for transitioning to a more omnichannel approach in retail, visit this resource.
