According to recent data, footfall in London’s West End on Tuesday showed a slight increase compared to the previous week. This is somewhat surprising, considering the ongoing trend of consumers avoiding crowded shopping areas during the pandemic. However, it is important to note that footfall is still significantly down compared to pre-pandemic levels in 2019, with a 27% decline.
The decrease in footfall is particularly concerning for the West End, as it had hoped to recover and reach the same levels as seen in 2019. This highlights the enormous challenges faced by the retail industry in the current climate. Jace Tyrrell, CEO of the New West End Company, expressed his disappointment in the decrease in customers compared to two years ago. Retail and leisure businesses have invested significant time and resources to prepare for a busy Christmas season, only to be faced with people staying at home due to rising Covid rates.
For these struggling businesses to survive the winter months, tangible financial support is crucial. Tyrrell emphasized the need for comprehensive and substantial measures, surpassing the limited support package announced by the Treasury. Without sufficient support, more beloved brands may be forced to close in the months ahead.
Councillor Rachael Robathan, leader of Westminster City Council, shared these concerns and highlighted the impact of remote work and an unofficial lockdown on city centers. She stressed the importance of flexible grants and continued business rate relief to revive the economy of central London. Many shops in the West End are facing an uncertain Christmas season and an unpredictable start to the new year.
The footfall performance in the West End reflects the wider challenges faced by the retail industry. As the pandemic continues to disrupt consumer behavior and shopping habits, it is crucial for authorities and policymakers to provide the necessary support to ensure the survival and recovery of businesses in the West End and beyond.
Useful Links:
1. BBC News: Retailers still feeling impact of Covid, says trade body
2. The Guardian: High street retailers threaten strike action over government support
