Adverse weather conditions at the start of November combined with a surge in consumer activity on Black Friday resulted in a modest 1% increase in footfall in November versus October, according to latest data from MRI Software’s OnLocation [formally Springboard] Footfall Index.
Despite a challenging start to the month, with the return to school following the half-term break and Storm Ciaran causing disruptions across the UK, this represents the strongest month-on-month result since 2017. MRI said this may well be attributed to the Black Friday sales towards the end of the month, the final pre-Christmas payday for many and the attraction of nationwide festive events that drew consumers to retail destinations.
High streets witnessed a slight month-on-month decline in footfall of -1% versus a rise in shopping centres and retail parks of 4.3% and 2% respectively. However, a more in-depth analysis of high street footfall shows a positive picture in that activity rose in three out of the four weeks in November with a double-digit boost in the week of Black Friday (w/c November 20) of 10%.
MRI said this indicates that the investment which many towns and cities have made in Christmas lights and enlivenment markets, and events are serving their purpose in attracting visitors. It was the High Streets that experienced a marginal weekday increase in footfall of 0.7% from last year versus a weekend decline of -3.6%.
Across all retail destination types, weekdays outperformed weekends with a 0.9% rise versus a -1.9% drop from 2022; suggesting an increasing number of people are heading into the office and maximising their time by heading out at lunch or after work to engage in festive celebrations and maybe even some shopping.
Following the announcement of a drop in inflation to 4.6% in November, GFK’s Consumer Confidence Index rose by six points, reflecting a heightened sense of optimism about future finances among consumers. This is reflected in a boost in footfall on Black Friday across all retail destination types from the week before; by 11.8% in high streets, 14.3% in shopping centres and 9.6% in retail parks, accompanied by reports of increased spending across various media outlets.
Jenni Matthews, marketing and insights director at MRI Software, said: “The pivotal trading month for retail is upon us and retail destinations should approach this with enthusiasm following the week-on-week uplift in footfall for Black Friday. This signals the beginning of the countdown to the big day and while shoppers are still looking to maximise the savings they make, it’s clear to see that the investment in festive attractions this year is paying off in terms of driving footfall nationwide. Many towns and cities are embracing the festive spirit and are expected to introduce free parking on selected days as we edge closer to Christmas day which will act as a catalyst for high streets in driving footfall. These initiatives extend beyond just financial savings for many, presenting consumers with the opportunity to create memorable experiences.”
