Footfall predicted to decline in run-up to Christmas
The cost-of-living crisis is set to cause a drop in footfall in the run-up to Christmas according to retail intelligence firm Springboard.
The company is predicting that footfall across all UK retail destinations will decline on a month-to-month basis by 4.9% in September, 2.5% in October and -0.3% in November.
However, Springboard expects the number of visits to retail locations to increase by 6% from November to December during the key Christmas trading period.
The decreases between September to November, followed by only a modest rise in the final month of the year, will eradicate the gains made over much of 2022. The company said the resulting gap from the 2019 footfall level of -18% in December will be widest since February 2022 when it stood at -20.7%
Factors influencing Springboard’s forecast include consumers’ fears over the impact of October’s expected rise in energy costs and a potential increase in unemployment rates.
Springboard has also highlighted the fact that footfall traditionally dips marginally anyway in November but said the drop this year will be mitigated by shoppers using discounts available over the Black Friday period to buy Christmas presents in the hope of outrunning inflation.
Photo by Georgia Hawkins
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