According to a survey conducted by data firm MRI Springboard, weekend retail footfall in the UK is showing signs of returning to pre-Covid levels, while weekdays are still lagging behind. The study revealed that 56% of employees now plan to work from home for at least part of the week, indicating a shift towards hybrid working. This change in work patterns has resulted in stronger footfall recovery on weekends, with the gap compared to February 2019 now standing at just -9.3%, compared to -15.4% on weekdays.
In February, footfall across all UK destinations remained resilient, despite the ongoing cost-of-living crisis, showing a 9.4% increase compared to January. This was the largest monthly increase for February since 2010, except for 2021. High streets saw the highest rise in footfall, with a 16.1% increase compared to February 2022, while shopping centers and retail parks experienced increases of 9.7% and 1.4% respectively.
The survey also highlighted the impact of the school half-term week on footfall, showing a 7.6% increase during that period. However, footfall fell back by -5.3% in the week following half-term. When looking at the four-week period from January 29 to February 25, footfall remained 12.2% lower compared to the same period in 2019. This suggests that the ongoing decrease in footfall is more influenced by hybrid working arrangements rather than retail underperformance.
MRI Springboard emphasized that hybrid working is becoming increasingly established, indicating a structural shift in consumer behavior. The survey also revealed that the weekend is becoming even more important in generating footfall, with a faster recovery to pre-pandemic levels compared to weekdays. In February, the weekend accounted for 29.8% of the total week’s footfall volume, an increase from 28.9% in 2019.
Consumers are now showing a greater desire for experience shopping rather than necessity shopping, leading to the “great return to the Saturday shopping day out.” To keep consumers engaged, retail destinations need to invest in their experiential offerings. Shopping habits among those who work in a hybrid manner have also changed, with almost a quarter visiting destinations less frequently, spending more time on each trip, and combining shopping with leisure activities.
These findings indicate a significant shift in the usage of retail destinations in the future. Business owners and managers will need to focus more on the weekend period in order to thrive in the post-Covid economic environment.
Useful links:
– Retail Gazette: Retail bounces back during February as footfall shoots up
– Springboard: February footfall resilient despite the ongoing cost-of-living crisis
