All the visitors and interest brought by the May Bank Holiday and Queen’s Platinum Jubilee, retail footfall between May 29th and July 2nd remains below 2019 levels.
Data released by Sprinboard show footfall improved just one percent in June compared to ‘may, but was still -12.3 percent over 2019. This compares to -14.9 percent less high street visitors and -16.5 percent less traffic in shopping centres.
The Platinum Jubilee saw a surge in footfall, up 8.6 percent but this wasn’t sustained over the rest of the month.
June’s result reinforces Springboard’s view that the cost of living crisis is starting to impact consumer behaviour and constrain shopper activity. Robust store sales in June mitigated the overall impact on the retail sector, but sales were erratic from week to week, the first sign of consumers pulling back on spending, with a slowdown on spending expected.
Springboard said the continuation of hybrid working impacts footfall in larger towns and Cities, with London seeing a -21 percent decrease compared to 2019 in Central London vs -9.9 percent in Outer London, and -15.8 percent in large city centres around the UK vs -15.2 percent in market towns.
Springboard anticipates that footfall will remain at least 10 percent to 15 percent below 2019 levels in the second half of 2022.