Springboard: Footfall Rises Marginally Indicating Consumer Nervousness

• Footfall rises marginally indicating consumer nervousness, as workers prefer Wednesday office working

Springboard has published footfall data for week 45 (6/11 - 12/11) noting that footfall was boosted by +8.2% thanks to half term: the largest rise since Easter, in midst of cost of living crisis. 

Springboard High Street Index - Week 45 2022

2022 vs 2021 = +6.5%

2022 vs 2019 = -12.4%

Week-on-week = +2.1%

Springboard's Marketing and Insights Director, Diane Wehrle, said:

"Following a large decline in footfall in the week before last, last week footfall in UK retail destinations rose only marginally. Under normal trading conditions we would expect footfall to bounce back in the week following a decline however, the modest uplift last week is a clear indicator of the increasing cautiousness of consumers in terms of making trips and spending.

"The results also indicate the change in consumer behaviour that is starting to become evident as a consequence of hybrid working, with the weekend increasing in significance for shopper activity. Footfall over the working week rose last week, however, the increase only partially made up for the drop in activity in the previous week. The largest rise over the Monday to Friday period last week occurred on Wednesday, reflecting the results of Springboard's Retail Consumer Survey(1) which has identified Wednesday as the most popular day for office working and Monday and Friday the least popular. Over the weekend, the double digit rise in footfall was more than twice the magnitude of the decline in the week before last, suggesting that consumers delayed trips to destinations until the weekend which prior to hybrid working may have been taken during the working week.

"Of the three key destination types, it was high streets where footfall rose the most, with only a very slight uplift in shopping centres whilst footfall in retail parks remained flat from the week before last. Footfall rose in high streets and shopping centres across the majority of UK geographies, but increased in retail parks in only three UK areas."

(1) Springboard’s series of reports on UK shoppers’ habits and views are designed to understand the changes in consumer behaviour that underpin the demand for bricks and mortar retail as we emerge from the Covid pandemic.  Reports are available to download from https://www.spring-board.info/insight-reports/

Source : Springboard

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