Scotland’s recent reopening of non-essential stores has brought a ray of hope to the UK retail industry. After being closed since Christmas, Scottish footfall to retail destinations decreased by more than 50% last week. However, with the reopening of stores on Monday, experts predict a significant improvement in overall UK footfall figures. The West End of London has also experienced a strong increase in footfall, indicating a continued recovery for the area.
In a positive turn of events, footfall across all UK retail destinations is now only 19.9% below the pre-pandemic level, which is a marked improvement compared to previous figures. This suggests that consumers feel confident and safe visiting stores and have discretionary income available for spending. Although there was a decline in footfall compared to the previous week, this was expected due to the initial rush of store visits after reopening. If the current rate of store visits can be stabilized and further built upon, it indicates a brighter future for physical retail.
Interestingly, retail park footfall has actually exceeded the 2019 level, with a 2% increase. This highlights the appeal of retail parks to shoppers. However, high streets and shopping centers still have work to do to entice consumers back, as footfall in these areas remains down by 27.2% and 25.5% respectively compared to two years ago. The impact of Scotland’s reopening on next week’s figures will provide a clearer indication of the country’s overall retail recovery.
In Central London, footfall remains significantly lower, down by 56.7% compared to the same week in 2019 and 4.8% compared to the previous week. This is largely due to the absence of tourists and office workers in the key shopping district. Nevertheless, this is an encouraging sign when considering that footfall in Central London had previously plummeted by more than 80% during the peak of the lockdown.
Jace Tyrrell, the chief executive of New West End Company, which represents 600 businesses in prominent London shopping areas, expressed optimism regarding the sustained levels of footfall in the district. However, he stressed the need for continued support from authorities to aid retailers in their recovery. He also called for an extension of Sunday trading hours in the West End and Knightsbridge, as shoppers have shown a desire to shop in the evenings and take advantage of the convenience offered by these areas.
Overall, the reopening of non-essential stores in Scotland and the ongoing recovery of footfall in the West End of London bring forth positive developments for the UK retail industry. With support and flexibility, retailers can look forward to better times ahead.
For more information on the current state of the UK retail industry, you may find the following links useful:
1. Retail Gazette
2. Retail Week
