According to retail experts MRI Springboard, last week saw mixed results for retailers as footfall was majorly impacted by the Coronation. Across the week as a whole, footfall increased +3.0% on 2022 levels and dropped just -0.2% on last week. However, footfall dropped by -20.6% across UK retail destinations on Coronation day compared to the week before, as consumers were drawn away by the once in a lifetime event, while in contrast, places like Central London saw a significant footfall boost.
On Saturday footfall across all UK retail destinations was -13.2% lower than on the same day last year, but in Central London it was +11.3% higher than on same Saturday in 2022, +24.3% higher in non-retail areas of Central London and +9.2% higher in Knightsbridge. Over the five hours between 10am and 3pm the uplift from last year in London was even greater; +21.5% across Central London, +46.4% higher in non-retail areas of Central London and +56.2% higher than last year in Knightsbridge.
Across all UK retail destinations on Saturday footfall was -21.8% the 2019 level, but in Central London it was just -6.1% below 2019 and in non-retail areas of Central London it was +10% higher than on the same day in 2019. Over the five hours between 10am and 3pm, footfall in Central London was on par with the 2019 level (+0.2%) and a staggering +32.9% higher than 2019 in non-retail areas of Central London.
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Over the seven days from Sunday to Saturday, footfall across all UK destinations was +3% higher than in the same week in 2022, a reduction from an annual increase of +4.8% in the week before last. However, the gap from 2019 narrowed considerably last week to -6.7% from -11.6% in the previous week as the equivalent week in 2019 was a normal working day rather than a bank holiday.
On Sunday, the day following the Coronation, footfall across the UK’s retail destinations was just -1.1% lower than last Sunday during the early May bank holiday weekend. It appears that Central London was still attracting visitors on Sunday, as footfall in the capital was +2% higher than last Sunday. However, some consumers also made the most of the dry warm weather to make day trips elsewhere in the UK, as footfall in coastal towns was +7% higher than bank holiday Sunday last week and +2.4% higher in historic towns.
Footfall was +7.3% higher than on the same Sunday last year across all UK retail destinations and +14.1% higher in high streets, which is likely to be a result of parties and activities taking place in town centres. Footfall in Central London was +13.7% higher than last year and only -9.1% lower than in 2019. In non-retail areas of Central London with tourist attractions, footfall yesterday was +21.5% higher than last year and just -3.8% lower than in 2019.
Diane Wehrle, Insights Director at MRI Springboard comments: “Last week was an exceptional week in that it was bookended by bank holidays, which meant that footfall across UK retail destinations remained virtually flat from the week before. There were very marginal rises in footfall in high streets and retail parks, but these were offset by a larger drop in footfall in shopping centres.
Footfall rose from the previous week on each day between Sunday and Thursday in all three key destination types, but it dipped on Thursday in shopping centres. On Friday footfall decreased, possibly due to consumers adding an additional day onto the bank holiday weekend. On Saturday – the day of the Coronation – footfall declined from the previous Saturday. A dip in footfall on Saturday was forecast as the day of the Coronation was being compared with the bank holiday weekend in the previous week, however, the dip was much larger forecast possibly in part due to the continual rain that will have deterred consumers from making trips.
The Coronation – a once in a lifetime event for many – somewhat inevitably drew consumers away from stores and destinations on Saturday as many were watching the proceedings. Footfall across all UK retail destinations was -20.8% lower than the previous Saturday over the day as a whole, and -24.6% lower between 10am and 3pm when the ceremony and parade took place.
However, there was a significant variation across different towns and cities with uplifts in footfall in many. In Central London the increase in visitors to the Capital coming to witness the event in person meant the drop in footfall over the day as a whole from the week before was far smaller at -9.3% and footfall between 10am and 3pm was virtually on par with the previous week (-0.2%) and in non-retail areas of Central London it was +8.5% higher than last week during that five hour period. In Knightsbridge – a location with an iconic British brand but more distant from Westminster Abbey so easier to access – footfall over the day as a whole was +9.7% higher than on the previous Saturday, and a staggering +57.7% higher than the week before over the five hours from 10am to 3pm.
There were also uplifts in footfall in other towns and cities across the UK, as big screens were erected in some high streets to enable shoppers to watch the proceedings. In King Edward Street in Hull footfall was +3.9% higher than last Saturday between 10am and 3pm, and in New George Street in Plymouth footfall was +7.8% higher over those five hours. In Market Square in Sunderland footfall was -20.5% lower during the event itself, but +11.9% higher over the 24 hour period.”
