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Total UK footfall decreased by 13.3% in November compared to pre-pandemic levels, according BRC-Sensormatic IQ Footfall Monitor, as the cost of living crisis put off some consumers from visiting the shops.
This level was 1.5 percentage points worse than October and lower than the 3-month average decline of 11.5%.
High Streets footfall declined was down by 13.6% in November on a three year basis, 2%pts worse than last month’s rate, and worse than the 3-month average decline of 12.3%.
Retail Parks saw footfall decrease by 4.2%, 0.5%pts worse than last month’s rate, while Shopping Centre footfall declined by 23.2%, 1.4 percentage points worse than in October.
On a year-on-year basis total footfall increased by 3.7%; High Streets by 8% and Shopping Centres by 7%. Retail Parks decreased by 4%.
BRC CEO Helen Dickinson said: “Footfall took another stumble as the cost of living crisis put off some consumers from visiting the shops in November. Others opted to stay home due to the scattering of rail strikes, or chose the World Cup over shopping visits. Many big cities were particularly hard hit, with Birmingham, Bristol and Manchester all seeing the biggest drops in footfall since January.
“Rising inflation and low consumer confidence continue to dampen spending expectations in the run up to Christmas. Despite retailers doing their best to keep prices as low as possible for their customers, financial concerns are trumping spending for many households. But, with three more weeks to Christmas, retailers hope that the festive spirit may still give a welcome boost to both footfall and retail sales.”
Andy Sumpter, retail consultant EMEA for Sensormatic Solutions, added: “As retailers readied themselves for the start of peak trading ‘proper’, November brought a slew of disruption and opportunity, almost in equal measure. While train strikes did spell disruption to many, concerns that the untested format of a ‘Christmas World Cup’ could take the shine off retailers’ Black Friday efforts proved unfounded, with the results in-store bettering the results on the field for England and Wales.
“With footfall on Black Friday surpassing 2021 levels, retailers will be hoping this signposts a resilience in consumer demand, even in the context of the rising cost-of-living, as they head into the critical December Christmas trading period.”
Morning update
On the markets this morning, the FTSE 100 is down 0.4% to 7,529pts.
Risers include Associated British Foods, up 3.4% to 1,642p, Just Eat Takeaway.com, up 3.3% to 1,991.2p and Pets at Home, up 2.7% to 272.3p.
Fallers include Kerry Group, down 3.5% to €88.56, Naked Wines, down 2.7% to 90.2p and Haleon, down 1% to 289.9p.
Yesterday in the City
The FTSE 100 closed yesterday down 0.2% to 7,558.5pts.
Fallers included McBride, down 4.8% to 20p, FeverTree, down 2.8% to 1,132p, SSP Group, down 1.4% to 210p, Devro, down 1.3% to 302p and Hilton Food Group, down 1.1% to 535p.
Risers included Deliveroo, up 6.8% to 93.2p, Ocado, up 6.8% to 664.8p, C&C Group, up 4.9% to 183.2p, Kerry Group, up 4.4% to €91.75, Just Eat Takeaway.com, up 3.4% to 1,926.8p and Haleon, up 3.1% to 293p.
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