Good Friday Shopping Surpasses Analyst Projections
Shoppers flocked to the stores on Good Friday, surpassing all expectations and signaling a potential recovery for the retail industry. According to analysts at Springboard, footfall in high streets, retail parks, and shopping centers saw a notable increase compared to last week and the same period last year, with an overall rise of 18.6% across all UK destinations.
While the impact of the pandemic is still evident, with footfall dropping by 11% compared to 2019, there are positive signs of progress. Diane Wehrle, Springboard's insights director, noted that while retail parks saw steady footfall throughout the day, people were heading out "later in the day" for shopping in high streets and shopping centers.
Coastal towns experienced the biggest week-on-week increase, with footfall up by 55.1%, as the sunny weather drew day trippers to popular destinations. However, footfall in coastal areas still lags behind both last year and pre-pandemic levels when compared to market towns and historic towns.
Despite the overall trend of footfall narrowing the gap from pre-pandemic levels, shoppers are grappling with rising living costs, including energy bills and grocery prices, which are squeezing household budgets. The British Retail Consortium (BRC) also noted that the recent recovery in numbers had slowed due to inflation being close to a 40-year high, creating a challenging economic environment for consumers and businesses alike.
Nevertheless, weekend shopping is showing signs of revival as more people return to working in offices during the week. Although footfall numbers remain below pre-pandemic levels, the resilience of the retail industry and the eagerness of shoppers to return to stores on Good Friday are promising indicators of a potential recovery.