According to a report by Springboard, footfall in the UK experienced a “lull” in the week leading up to Black Friday. The overall footfall across all destinations increased by a modest 1.6% during the week of November 13-19 compared to the previous week. However, this increase was primarily driven by high streets and shopping centers, while footfall in retail parks remained relatively stable. Springboard noted that despite the presence of various promotions, consumers showed reservation and held back on shopping in anticipation of securing better discounts during Black Friday.
The impact of this small increase in footfall can be seen in the annual results, which showed a drop in uplift from the previous year. The increase from 2021 dropped by almost half to 2.8% compared to the 5% increase in the previous week. This could indicate consumer nervousness surrounding the current cost of living crisis. High streets experienced the most significant decline from the previous year, with the increase dropping by nearly a third to 2.7% compared to the 6.5% increase in the previous week. However, there is a slight positive note as the gap from the 2019 footfall level slightly narrowed to -10.5% from -11.1% in the previous week.
It’s important to note that the results for the week as a whole may be slightly misleading. The majority of the uplift came from increases on Sunday and Monday, which saw an average rise of 12.7%. This was a bounce-back from a decrease of 9.4% in the previous week. However, footfall decreased on average by -3.4% between Tuesday and Thursday compared to a 1.9% increase in the previous week. It slightly improved on Friday and Saturday with an average increase of 0.6%.
Diane Wehrle, Insights Director at Springboard, suggested that consumers may be holding back on their shopping activities in the hopes of securing more favorable discounts as the week progresses. She emphasized the volatility of consumer activity, as demonstrated by the decrease in footfall compared to the previous year.
In related news, H&M has been closing stores in the UK, with one in five of its estate being shut down in recent years. This reflects a trend among retailers to future-proof their store networks and exercise caution in the current climate.
Overall, the lull in UK footfall before Black Friday indicates consumer reservation and the anticipation of better discounts. Retailers will need to navigate these challenges and adjust their strategies accordingly to ensure success during this critical shopping period.
Useful links:
1. Springboard: Official website of Springboard, providing insights and data on UK footfall trends.
2. H&M: Official website of H&M, an international fashion retailer closing stores in the UK.
