UK weekly footfall is on the rise as more office workers are returning to the high streets. According to Springboard, footfall across retail destinations in the UK increased by 1.5% week-on-week for the period ending 15 January. This increase is largely driven by high streets, which saw a significant jump of 7.2% in footfall. However, footfall in retail parks declined by 4.9% and shopping centres recorded a 4% dip.
This rise in footfall can be observed in various towns, with historic towns experiencing an increase of 3.6% and Springboard’s Central London Back to the Office benchmark seeing a 12% rise. Interestingly, footfall actually declined from Sunday to Wednesday, with an average drop of 7.4% over the four days and 12.4% over Monday and Tuesday. However, footfall increased from Thursday to Saturday, with an average increase of 13.4% over the three days. Saturday saw the highest uplift, with a 17.3% increase compared to the previous Saturday. It is important to note that this increase in footfall is likely a general vote of confidence in physical shopping, rather than directly linked to the office return.
High streets experienced an even greater uplift over the final three days of the week compared to the previous week, with an average increase of 21.2% and a peak of 30.1% on Saturday. In contrast, footfall in retail parks on Saturday was 2.7% lower than the previous week. The gap in footfall from 2019 narrowed slightly to -21.3% across all UK retail destinations last week. High streets improved their position relative to 2019, closing the gap to -26.9% compared to -30.9% in the previous week. However, footfall in retail parks and shopping centres widened the gap from 2019 to -4.2% and -26% respectively.
These positive signs of increased footfall are attributed to the confidence displayed by workers returning to their offices. As more individuals go back to their workplaces, they are venturing out to the high streets and engaging in physical shopping. This uptick in footfall is a positive development for the UK retail sector, as it suggests a recovery in consumer confidence and a boost for businesses operating in high street locations.
Overall, the rise in footfall across UK retail destinations, especially on high streets, is an encouraging indicator for the recovery of the retail sector. As office workers continue to return to their workplaces, it is expected that footfall will continue to rise, providing much-needed support for businesses and contributing to the revitalization of the high streets.
Useful links:
1. BBC: UK footfall up as shoppers return to high streets
2. Retail Gazette: UK footfall up 1.5% as workers return to the office
