Black Friday boosts retail footfall
By Abigail Townsend
Date: Thursday 01 Dec 2022
(Sharecast News) - Retail footfall sparked in November, industry data showed on Thursday - boosted by Black Friday - although it remains well below pre-pandemic levels.
According to retail consultancy Springboard, footfall rose 4.3% year-on-year in the four weeks to 26 November.
However, once the impact of Black Friday was stripped out, the increase was nearer to 2.5%. Overall growth has also now slowed for four consecutive months, from July's 15.6% jump.
On high streets, footfall increased 5.6% - down from October's 7.8% jump - while it rose 5% in shopping centres and by 0.7% in retail parks.
Compared to the same month in 2019, however, overall footfall was down 11.1%, following a 9.8% year-on-three-year slide in September.
Surging inflation and higher interest rates have hit consumer confidence and left retailers braced for a difficult Christmas, as hard-pressed households rein in spending.
Data published on Wednesday by the British Retail Consortium found shop price inflation had soared to 7.4% in November, with food inflation now at a record 12.4%.
Diane Wehrle, marking and insights director at Springboard, said: "We are likely to see a lull in footfall over the forthcoming weeks, which is a pattern of activity recorded by Springboard post Black Friday in pre-Covid years.
"There is a six-day trading week in the lead up to Christmas Day this year, which suggests footfall in the week from Sunday 11 December will also be muted, as shoppers hold out until the last week to shop, in the hope of benefiting from last-minute discounts."
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