Period covered: July 24Published: August 02, 2024Read time: 1min

Footfall Monitor

Footfall Monitor: Footfall in election stumble

Helen Dickinson OBE | Chief Executive | British Retail Consortium

Footfall declined for the twelfth consecutive month, failing to maintain the buoyancy seen in 2022/23. As summer got into full swing, many people have chosen to increase their spending on holidays and leisure activities rather than shopping. Election week also saw particularly weak footfall, as political electioneering peaked, creating uncertainty for many consumers.

With the election now over, many retailers will be making decisions about how and where to invest in the coming years. Retailers welcomed Labour’s promises to reform both business rates and planning laws – two major factors that often hold back much needed local investment. If Labour can address these effectively, they could help breathe new life into retail destinations.

Andy Sumpter | Retail Consultant – EMEA | Sensormatic Solutions

Despite a warmer and drier month compared to the wash-out that was June, July’s footfall faltered with shopper traffic falling back to the same levels we saw in May.  As we approach a full year of seeing footfall yo-yo in its ongoing recovery, it’s clear the longtail of the cost-of-living crisis is continuing to rattle consumer confidence and is likely to prompt spending caution for some time to come, making each in-store conversion all the harder won.  With election fever now over and the school holidays now in full swing, retailers will be hoping that spells a positive outlook for store performance in the months to come.