The British Independent Retailers’ Association has reacted to the latest footfall report showing that footfall in retail parks, the high streets and shopping centres have fallen. The BRC-Sensormatic IQ Footfall Monitor report for November showed that footfall was down, by showing a ‘slight uptick in consumer confidence’ as there was a slight increase from the previous month.
BIRA CEO, Andrew Goodacre
The report showed that total UK footfall decreased by 0.7% (YoY), an improvement on -5.7% in October.
- Retail Parks footfall decreased by 1.0% (YoY), an improvement on -4.3% in October.
- High Street footfall decreased by 1.7% (YoY), an improvement on -4.6% in October.
- Shopping Centre footfall decreased by 2.2% (YoY), an improvement on -7.3% in October.
Andrew Goodacre, CEO of Bira said:
Although the footfall was better than October, it is still down year on year. Thousands of independent retailers are concerned about trading in [the] run up to the all-important festive period. Spending depends on consumer confidence, and for that we need stability. Inflation is falling so we must not increase interest rates any further so that consumers can confidently budget their expenditure. Finally, tomorrow is Small Business Saturday and we really hope this super event will bring out the shoppers to their local independent retailers.”
Helen Dickinson OBE, BRC Chief Executive, said:
A slight uptick in consumer confidence, as well as easing inflationary pressures and more predictable weather, led to an improvement in footfall compared to the previous month. After a slow October start, the month-long Black Friday sales helped to get shoppers out to their town and city centres. While all parts of the UK saw footfall drop in October; both West Midlands and Yorkshire managed positive growth in November.”
The extensive cost-pressures on the retail industry over the last two years have limited investment and driven up prices at many shopping destinations. The Chancellor’s failure to commit to a business rates freeze in his recent Autumn Statement will inflict hundreds of millions of pounds in additional costs. This will inevitably slow the decline in inflation, as well as limiting long term investment and limiting any upside from improvements in UK footfall.”
