UK Retail Footfall Suffers Due to Latest Round of Lockdowns

According to recent research by Springboard, retail footfall across UK stores contracted by almost two-thirds on the back of the fresh lockdowns and restrictions imposed by the government after the discovery of more contagious strains of coronavirus. The number of shoppers visiting retail outlets declined by more than 65% YoY in January, worse than the 41.9% decline seen during December.

However, the decline in retail footfall was less severe than it was when the first round of lockdowns were implemented in April 2020, with 10% higher number of shoppers visiting high streets and shopping centers in January than in April last year. Shopping centers saw footfall decline by 73.6% YoY while UK’s high street shops suffered a 72.6% decline in footfall last month.

Overall decline in retail footfall was lower than during the first round of lockdowns as the government permitted health services like dentists and opticians to remain open. On another positive note, retail parks saw footfall decline by only 42.1% YoY during January.

Marketing and insights director at Springboard, Diane Wehrle, remarks, “The fact that footfall on retail parks was stronger in January 2021 than in April 2020 is interesting as there is generally a greater uplift in retail park footfall in the spring when many shoppers turn their attention to their gardens and homes. Stronger footfall in retail parks is synonymous with a degree of lockdown fatigue and pent up demand to get out of the house and shop, despite food store operators expanding their delivery capability.”

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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.
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