Double-digit footfall boost for London and South East as shops fear cost of living crunch will deter customers
Retail footfall saw a double-digit boost last month in London and the South East, thanks to a bout of sunshine.
London and the south East saw a 11.3 per cent rise in footfall to retail destinations in March. This represented footfall down 22 per cent on pre-pandemic levels.
Across the UK, footfall was up 9.9 per cent in March, fresh data from Ipsos revealed on Tuesday.
“Despite footfall still being down by -22.9 per cent compared to 2019, the unseasonably warm weather had a positive impact on footfall across the UK,” Oliver Hillier, senior retail analyst at Ipsos retail performance, explained.
He added: “However, concerns that the Chancellor’s Spring Statement didn’t go far enough to protect consumers against the rising cost of living will likely impact footfall levels throughout the Spring, as many households look to cut back on non-essential items to cover increasing utility costs and the recent rise in council tax.”
It comes as Morrisons warned on Monday that its profit was likely to take a dent due to war in Ukraine and shoppers cutting back on spending amid rising inflation.
“Ipsos data continues to show that towns outperformed cities by 8.3 per cent points in March. Local high streets also remain popular, with footfall levels increasing 15.7 per cen t compared to the previous month, as shoppers look to support their local economy – a trend that has been gathering pace since the start of the Covid-19 pandemic back in March, 2020.