Retail footfall in October saw a small decrease due to factors including bad weather, a shift in school holidays and consumer caution ahead of the budget, according to MRI Software.
Footfall across all destinations fell by 0.6% in October compared with September as consumers are likely to be saving any spend for Black Friday in November.
The fall was mainly down to a 1.3% decrease in retail park footfall and a 1.2% decline in shopping centre footfall. High streets saw a marginal decline of 0.1%.
Annual footfall also declined by 0.6% in October this year in comparison with October 2023. This was largely driven by a 1.5% drop in shopping centres and 0.8% in high streets. Retail parks saw footfall increase by 0.8% year on year.
Weekend footfall across all UK retail destinations also fell by 0.6% year on year while weekday activity decreased by 1%. MRI said this could be due to the fact that this year’s school half-term is split across the final week of October and the first week of November.
MRI Software marketing and insights director Jenni Matthews said: “With Black Friday less than a month away and Christmas following shortly after, retail stores and destinations are likely to see footfall rise as we head into November. In the second week of October, MRI Software’s weekly ‘Insights from the Inside’ poll revealed that 68% of retailers had noticed consumers already starting to shop for Christmas while 66% remain optimistic that footfall will be higher in November this year compared to last year.
“However, London is set to face tube strikes and overtime bans from 1st to 16th November, adding further strain on London’s transport network. MRI Software anticipates the drop in footfall to be much more modest ranging anywhere between 1%-5% week on week especially as overground rail services and the Elizabeth line are still expected to operate as usual.
“Staying prepared is key for the critical months ahead. Retail leaders should be embracing the data they have on their stores and wider portfolios to prepare accordingly in terms of staffing and operational management, as well as upcoming lease renegotiations, as we enter a season renowned for weather disruption and engineering works on public transport networks.”
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