⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

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 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
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles