July footfall suffers double-digit decline, according to IPSOS

Ipsos Retail Performance has published the latest Retail Traffic Index and revealed that footfall in July was 10.8% down on 2017 figures.

Despite the hot weather keeping consumers away from the high street, July's footfall figures were still 3.4% higher than June.

The figures show that although year-on-year the footfall gap widened in July, the three-month trend reduced to 9.1%.  March to May figures declined by 11%.

The London and South East region saw the worst regional performance with a 15.9% decline compared to July 2017.

Dr Tim Denison, retail intelligence director at Ipsos, said:

“Following an improving high street performance over the last couple of months, July’s footfall figures will be very disappointing news for retailers,”

“We had expected the recovery to continue, but any feel-good factor from the hot weather and summer of sport failed to materialise on the high street.

“With the base rate hike, subdued pay awards and consumer confidence languishing, retail spending is unlikely to get any stronger for the remainder of this year.

“We are also now at 20 profit warnings among listed retailers for 2018, twice the number of 2017 – underlining just how tough both trading conditions and the costs associated with structural changes are impacting the sector.”

Source : Insight DIY Team and Ipsos

Image : Shutterstock - 130030334

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