The Queen’s Jubilee weekend was a huge success, and it had a positive impact on retail footfall in the UK. According to Springboard footfall figures, there was a significant surge of 17.7% across all retail destinations on the Bank Holiday Thursday, which marked the beginning of the weekend. This increase can be attributed to the great weather and the exciting events held in town centers.
However, footfall on the following Friday and Saturday was lower compared to the same days in the previous week. This decline can be explained by shoppers shifting their focus to local jubilee celebrations. Despite this dip, high streets were the winners during the Jubilee weekend. Footfall on high streets increased impressively by 22.6%, surpassing the footfall growth of shopping centers (+14.8%) and retail parks (+10.2%).
Coastal towns also experienced a significant boost in footfall on Thursday. The combination of good weather and the school half-term holiday resulted in a massive 63.7% increase compared to the previous Thursday. On this one day, footfall was even 21.3% higher than in 2019.
These positive footfall figures come after a strong month for retail in May. The footfall figures in May were only 13.7% below the 2019 level, which is an improvement from the 15.9% decline recorded in April. Additionally, Springboard’s Store Sales Tracker revealed that in-store sales in May were 5% higher than in May 2019.
However, it is important to note that these positive results may mask the emerging inflation pressures in the retail industry. In the first week of May, footfall was only 9.3% below the 2019 level across all retail destinations, thanks to the early May Bank Holiday boost. But by the last week of May, footfall had worsened to a 16.1% decline from the 2019 level.
Overall, the Jubilee weekend was a success for high streets, with a significant increase in footfall. This provided much-needed support for retailers, especially after a challenging period due to the ongoing pandemic. The positive footfall figures in May and during the Jubilee weekend indicate that consumers are eager to return to physical stores and show their support for local businesses. However, retailers will need to adapt to the changing circumstances, including the potential challenges posed by inflation pressures, in order to ensure their continued success.
Useful links:
1. Retail Gazette – Queen’s Jubilee Weekend Positive Impact on UK Retail
2. Springboard – Eight-Day Return to Growth in Footfall Ends in Jubilee Dip
