UK retailers hit by footfall decline amid cost of living squeeze

Footfall at retail outlets in the UK fell by 2.3% last week as economic turmoil continues to squeeze household budgets, figures show.

by | 24 Oct, 2022

Research by the retail analysts Springboard found high streets, retail parks, and shopping centres had fewer visits than in the week before.

High streets were worst hit, with a 3.3% decline, while retail parks and shopping centres fell by 1.5% and 0.7% respectively. Overall, footfall was up 5.9% compared with the same time in 2021, when the country was emerging from the Covid pandemic, but down 11.1% on 2019 levels.

The data comes amid steep jumps in mortgages and other costs after the mini-budget in September, with inflation at a 30-year high and increasing concern about the economic outlook.

Read more at The Guardian

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