Springboard says shopping centres are on the road to recovery
January brought some stability for bricks and mortar stores, according to Sprinboard, which reported a drop in footfall of -0.5 per cent from January 2019, in comparison to the previous years when footfall dropped by -0.7 per cent.
Footfall in retail parks rose by +1.4 per cent from January 2019. Footfall in shopping centres rose by +0.2 per cent from January 2019, the first month with an increase since March 2017, and only the third month in four years when footfall has risen. Footfall in high streets declined by -1.8 per cent in January.
Diane Wehrle, Springboard marketing and insights director, commented: “January was the first month since March 2017, and only the third month in four years, that footfall in shopping centres rose; and whilst a rise of +0.2 per cent is only a modest increase it brings some much needed hope for this destination type that has consistently lost shoppers for over two years.
“It seems that this is an early sign that the regeneration schemes long planned by owners to broaden the offer of malls to incorporate a greater experiential element, particularly in the larger malls, are working and they now better reflect consumers demands. It is likely that this is part of the reason why footfall in high streets declined by -1.8 per cent in January, as consumers were attracted back into shopping centres, and is further illustrated by the contrast in footfall post 8pm which rose by +3 per cent in shopping centres whilst declining by -1.3 per cent in high streets.”
