Retail Footfall Suffers Sharp Drop in Britain Due to Shutdown
The latest survey by BRC indicates a sharp drop in retail footfall in Britain during the month of April as a result of the pandemic-driven
The latest survey by BRC indicates a sharp drop in retail footfall in Britain during the month of April as a result of the pandemic-driven shutdown. The number of consumers visiting stores for shopping declined by 84.7% YoY in April, with most stores selling non-essential goods ordered to close even as consumers opted to stay indoors and keep themselves safe.
According to BRC’s chief executive, Helen Dickinson, “Lockdown has dramatically cut footfall traffic across retail locations, with the majority of physical stores closed to the public. The fall has been slightly less dramatic in retail parks where a high proportion of supermarkets and other essential stores have remained open, slightly mitigating the overall reduction in footfall.”
Total retail sales among businesses that are members of the BRC have dropped by 19.1% YoY in the month of April due to the shutdown because of the coronavirus pandemic. While the government has recently released a plan to ease the lockdown in several phases over the coming weeks, retail sales could remain under pressure for the foreseeable future as consumers turn more cautious amid the continued uncertainty over economic conditions in the country and across the world.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals