FootFall UK Retail Index
The FootFall National Retail Index is reporting a decline of -7.7% Week-on-Week and -4.5% Year-on-Year. Looking at the Daily Index, the weekdays are all reporting a decline year-on-year. However, the weekend reported a +8.6% improvement overall year-on-year.
A report released by Deloitte this week revealed that administrations caused by UK recession since 2009 has impacted more greatly on shopping centres and retail parks than the High Street. According to figures, the average vacancy rate of retail outlets from firms that have fallen into administration now stands at 20% for High Street stores, but is a significantly higher percentage of 29% for shopping centres and 37% for retail parks.
Ian Geddes, Deloitte’s head of retail, attributes the High Street’s survival to a change in consumer shopping habits. Rather than driving people away from stores, mobile shopping and the rise of click and collect points is creating a new era of ‘en route’ shopping that actually drives shoppers to convenient locations.
Despite Deloitte’s optimism, the FootFall National Retail Index figures note that there is some way to go before consumer traffic can claim true recovery, whatever the location. The year to date trend has declined this week and is now reporting at 0.0%. Whilst a decline, this continues to report better YTD performance compared to last year where it was reporting at -4.4% for the same week.
The FootFall Regional Index reports that ten out of 11 regions are showing a decline in year-on-year retail traffic, with London the only region reporting growth of +5.7%. Ten regions are also showing negative growth week-on-week with Eastern the only region reporting growth of +4.5%.
Within Retail Parks, the FootFall Index is reporting a year-on-year decline of -1.1%. Looking at the Daily Index, the weekend shows growth overall of 8.6% year-on-year. The week-on-week statistics are reporting a decline of -1.6%. Overall the YTD trend is positive and reporting +6.0% growth.