Published
October 31, 2024
A shift in the school half-term holiday timings and some pretty inclement weather did UK retail no favours across October, with footfall down 0.6% compared to September.
Retail footfall across the UK dipped slightly in October from September and fell by the same percentage on a year ago, with real parks and shopping centres bearing the brunt of the disinterest, dipping 1.3% and 1.2% respectively compared to last month. Compared to a year ago, they were down 1.5% in retail parks but at least showed a slight gain (0.8%) for shopping centres, according to MRI Software data.
High streets witnessed a much less severe decline of 0.1% compared to September and by 0.8% on a year ago.
Weekend footfall in UK’s retail destinations also fell by 0.6% year on year in October and weekday activity fell by 1% “which could be reflective of the half-term split across the final week of October and the first week of November”.
It noted that “the return to office is high on the agenda for many businesses” and last month may well have seen this strengthen, particularly in towns and cities across the UK”.
This reflected in high street footfall rising by an average of 4.3% from Wednesday to Friday compared to 2023 levels versus declines in retail parks (-1.9%) and shopping centres (-0.6%). “This may well be a sign of the return to office strengthening steadily”, MRI noted.
Looking ahead, it said its weekly ‘Insights from the Inside’ poll revealed that 68% of retailers had noticed consumers already starting to shop for Christmas while 66% remain optimistic that footfall will be higher in November this year compared to last year.
However, London is set to face tube strikes and overtime bans across 1-16 November, adding further strain to the capital’s transport network.
MRI anticipates the drop in footfall to be much more modest ranging anywhere between 1% and 5% week on week, especially as overground rail services and the Elizabeth tube line are still expected to operate as usual.
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