Jenni Matthews, marketing & insights director at MRI Software, spotlights how the UK retail industry has performed this past week, with the impact of the Euro 2024 final and the weather leading activity across the country
Week 29 – SUN-SAT
Retail footfall across the UK rose marginally last week in comparison to the week before with high streets leading the charge however retail parks witnessed a decline and shopping centres saw no change.
High street footfall was particularly strong at the start of the week likely boosted by the Men’s Euro’s final on Sunday and many communities gathering in pubs or venues showing the game. Monday was the weakest day in all UK retail destinations which may well be due to many people deciding to work from home or having taken the day off following the football on Sunday. Many stores, retail destinations, businesses and even schools had chosen to open late on Monday regardless of the final result therefore this drop-in activity could be a result of this decision.
The downturn was short-lived as footfall rose in all UK retail destinations for the remainder of the week which coincided with improved weather conditions. This was also noticeable in coastal and historic towns experiencing the greatest week on week rise, however it was a different story regionally with modest declines recorded in the East Midlands, Greater London and North & Yorkshire.
While footfall remained relatively strong week on week, retail parks and shopping centres witnessed a decline in activity compared to 2023 levels however high streets saw a significant rise.
Footfall rose by +0.8% last week from the week before in all UK retail destinations with the greatest rise witnessed in high streets (+2.4%) whereas retail parks experienced a decline of -1.5% and shopping centres remained flat.
A strong start to the week prevailed for high streets as footfall rose by +7.3% on Sunday compared to the week before which was likely influenced by increased activity in towns and cities that day and throughout the evening due to the Men’s Euro’s final. Retail parks and shopping centres saw significant declines on this day with activity falling by -9.4% and -5%, respectively. Monday was a relatively weak day for all UK retail destinations with footfall declining by -5.5% coinciding with many stores, destinations and businesses choosing to open later in the day. The impact was much more noticeable before 10am that day as evidenced by a drop in retail park (-8.9%) and shopping centre (-2.6%) activity.
Despite this downturn, the remainder of the week saw strong activity in all UK retail destinations with footfall rising by an average of +4.4% from Tuesday to Friday but weakened on Saturday with a decline of -4.3% recorded. Coastal and historic towns felt the benefits of improved weather conditions as footfall rose week on week by +7.8% and +5.3%, respectively. However, the East Midlands (-1.4%), Greater London (-1.1%) and North & Yorkshire (-0.1%) witnessed modest drops in activity last week from the week before. Annually, Scotland (-4.6%) and the South East (-4%) witnessed the greatest declines year on year which could suggest the start of the great summer getaway especially with schools finishing much earlier in Scotland that in England.
Compared to 2023 levels, footfall remained +0.9% higher in all UK retail destinations with much of this fuelled by high street (+3.8%) activity. Retail parks and shopping centres experienced declines of -1.3% and -3%, respectively. With the onset of the school holidays and more families choosing to vacation abroad this year, retailers should be prepared to see footfall decline over the coming weeks. MRI Software’s recent Consumer Pulse Survey, which was carried out in May, revealed that 46.5% of those surveyed were planning to take a vacation abroad this year with July (+24.2%) and August (+34.1%) being the most popular months for this.
Week 29 – MON-SUN
Retail footfall across the UK rose marginally last week in comparison to the week before with high streets leading the charge compared with marginal rises in retail parks and shopping centres.
Despite the week ending strongly in the week before last following the Men’s Euro’s final, last week saw a much weaker start with Monday seeing the greatest decline in footfall in all UK retail destinations. This may well be due to many people deciding to work from home or having taken the day off following the football on Sunday. Many stores, retail destinations, businesses and even schools had chosen to open late on Monday regardless of the final result therefore this drop in activity could be a result of this decision.
The downturn was short-lived as footfall rose in all UK retail destinations for the remainder of the week which coincided with improved weather conditions. This was also noticeable in coastal and historic towns experiencing the greatest week on week rise, however it was a different story regionally with modest declines recorded in the East Midlands, Greater London and North & Yorkshire.
While footfall remained relatively strong week on week, retail parks and shopping centres witnessed a decline in activity compared to 2023 levels however high streets saw a significant rise. With the onset of the school holidays and more families choosing to vacation abroad this year, retailers should be prepared to see footfall decline over the coming weeks. MRI Software’s recent Consumer Pulse Survey, which was carried out in May, revealed that 46.5% of those surveyed were planning to take a vacation abroad this year with July (+24.2%) and August (+34.1%) being the most popular months for this.
