In February, UK footfall increased by 0.2% year-on-year, a decline from the previous month's 6.6% rise. High street and shopping centre footfall showed minimal increases, while retail parks saw a 2% increase. Although Wales and England reported growth, Northern Ireland and Scotland saw declines in foot traffic. The BRC emphasized the performance of retail parks, citing free parking and larger stores as main attractions. Industry leaders warned that upcoming costs may hinder investment in retail, critical for revitalizing struggling high streets and ensuring long-term recovery in footfall.
Footfall increased for the second consecutive month, with retail parks continuing to outperform other retail destinations. The variety of larger retail outlets and the option of free parking enticed customers to visit retail parks over their local high street or shopping centre which saw only marginal improvements. Strong investment in retail parks and fewer empty stores has led to consistent positive shopper traffic over the past year.
Retailers are always looking for ways to invest in shopping destinations and the communities they serve. Unfortunately, the £7 billion worth of costs facing the industry from the Budget will hinder retailers’ ability to do this.
At a time when many high streets are in desperate need of revitalisation, the government must do more to support the retail industry's ability to invest. Ensuring no shop pays more as a result of business rates reform and delaying the new packaging levy would allow for more investment in stores and jobs, giving footfall a better chance of recovery in 2025.
After January's jump-start, retail footfall in February stalled, with retailers seeing only the slimmest improvement in customer numbers, emphasizing the volatility in shopping trends.
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