Footfall to fall by -4.5 per cent due to low consumer confidence
Retail intelligence experts Springboard has forecast that footfall across bricks and mortar retail destinations is anticipated to decline by -4.5 per cent on Black Friday, with High Streets being the hardest hit with a drop of -5.5 per cent.
This follows a decline in footfall on Black Friday over the past two years revealing the UK’s appetite for this pre-Christmas spending spree may be wavering. Springboard forecast that consumers are unlikely to make trips to stores to shop despite Black Friday falling a week later on payday weekend this year.
The footfall analyst attributes the expected decline to the prevalence of discounting from retailers throughout the year, combined with the scepticism surrounding whether Black Friday discounts are better than those being offered generally.
Diane Wehrle, insights director at Springboard commented: “For those who do choose to shop on Black Friday it seems that that the decision will be more about ensuring product availability in advance of Christmas rather than securing the lowest price.”
“These results reflect the low confidence of consumers that has been impacting on their willingness to spend throughout the year. Consumers are increasingly favouring experience and leisure based trips over retail shopping. Given the ongoing uncertainty in the run up to the general election, this is unlikely to change over Black Friday weekend.”
