The national rail strike in the UK on Tuesday is having a considerable impact on the retail industry, as highlighted by data from Springboard. The strike has resulted in a significant decrease in footfall on high streets across the country, with London being the hardest hit. Compared to the previous week, footfall has dropped by 8.5%, with a particularly sharp decline observed in Central London where footfall was 27% lower by 1 pm on the same day compared to the previous week. City centers outside of London also experienced a notable decrease of 11.2% in footfall.
In contrast, Outer London and market towns saw smaller declines in footfall, with decreases of 6.2% and 2% respectively. This can be attributed to the increasing popularity of remote working, as individuals who work from home find it more convenient to visit their local high streets during working hours. The decline in footfall in Central London and regional cities has widened the gap from pre-pandemic 2019 levels, with footfall now at -49.2% and -29.8% respectively, comparable to the footfall levels seen during lockdown. However, market towns have managed to narrow the gap significantly to just -2.5% and -13.4% in Outer London.
Diane Wehrle, the Insights Director at Springboard, emphasized the clear impact of the rail strikes on footfall, indicating that a significant number of people are indeed working from home. The rail strikes are expected to continue for the next two days this week, thereby causing disruptions to rail services on Wednesday, Friday, and Sunday. This five-day period is expected to have a severe effect on high street retailers, with particular concern surrounding the strike on Saturday, which is a key shopping day.
Useful Links:
1. BBC: National Rail Strike Impact on Retailers
2. The Independent: National Rail Strike and Its Impact on Retail in London
