Data from Datscha, tracking key high streets, reveals that London’s Oxford Street was the only major UK high street to experience an increase in footfall last month, up 20% from the previous month, according to RSM UK’s analysis. Meanwhile, UK footfall dropped 30% with Leeds experiencing the biggest decrease at 55%, followed by Nottingham and Glasgow with 49% and 48% drops respectively.
December footfall in the UK was almost half the levels seen in December 2019 before the pandemic (down 48%) and was behind the same period in 2021 (down 25%).
Jacqui Baker, Partner and Head of Retail at RSM UK and Chair of ICAEW’s Retail Advisory Group, stated: “London may have taken longer to recover post-lockdown compared to other cities, but it made a strong comeback in December with an increase in footfall, while all other major UK cities saw a decrease. The return of office workers, holiday shopping, and socializing gave a boost to the capital’s high street.
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However, the industrial strikes during December affected the willingness of people to go out and about in many other UK cities, as shown by the mostly poor footfall results. Retailers in December already face limited trading time due to the Christmas holidays, and consumers tended to prioritize socializing over visiting high streets.
Besides London, December’s footfall figures did not provide confidence for retailers looking ahead to a nerve-wracking first quarter of 2023. Some high streets saw success during the holiday season, and it is hoped that the recent decline in energy prices will continue, reducing the cost-of-living crisis later in the year and increasing consumer confidence. The retail sector still has everything to play for.
