Footfall across all UK retail destinations rose by 1 per cent in the four weeks from 29th October – 25th November 2023, compared to the previous month, boosted by Black Friday as retailers prepare for a “pivotal month of Christmas trading”.
According to the most recent statistics from MRI Software’s OnLocation Footfall Index, footfall stayed steady compared to November 2022, with a 0 per cent change.
Retailers were mainly salvaged by Black Friday week, with a 7.9 per cent week-on-week increase over the week countering an average decrease of 1.7 per cent in the previous three weeks, as shoppers dealt with Storm Ciaran and bad weather at the start of the month.
Footfall in high streets fell by 1 per cent for the third month in a row, most likely due to the bad weather in the first week of November. Footfall at shopping centres and retail parks increased by 4.3 per cent and 2 per cent, respectively.
Despite a difficult start to November, with students returning to school after the half-term break and Storm Ciaran causing disruptions across the UK, the increase in footfall from October to November 2023 is the biggest month-on-month increase since 2017.
The difference between pre-pandemic and post-pandemic footfall increased to -11.2 per cent in November from -10.8 per cent in October, owing mostly to “a deterioration in high streets and shopping centres” to -12.6 per cent and -17.1 per cent, respectively. The deficit in retail parks, on the other hand, has reduced to -2.2 per cent.
Weekdays outperformed weekends across all retail destination types in November, with a 0.9 per cent increase versus a 1.9 per cent drop from 2022, indicating that an increasing number of people are heading into the office and maximising their time by heading out at lunch or after work “to engage in festive celebrations and maybe even some shopping.”
Following the news of a 4.6 per cent decline in inflation in November, GFK’s Consumer Confidence Index increased by six points, demonstrating consumers’ increased optimism about future finances.
