Retail footfall figures have improved year-on-year for the fourth consecutive despite a mixed Easter according to Ipsos Retail Performance.
The global retail and footfall consultancy compiles the Retail Traffic Index (RTI), which is derived from the number of individual shoppers entering over 4,000 non-food retail stores across the UK.
In March, store traffic was up 3.8% on the same month of 2014, and 6.3% higher than February’s figure. Regional results showed a similar trend to February’s year-on-year increase, with the North of England, Scotland and Northern Ireland seeing the strongest growth. The only region to see a decline was London and the South East, with physical visits in-store continuing to be replaced by online purchases.
The first week of the Easter holiday fortnight, the week commencing 29th March, had a significant impact on March’s retail traffic, taking place two weeks earlier than in 2014. The bank holiday week saw a 1.5% increase in footfall on the equivalent Easter week last year.
Good Friday and Easter Saturday were dampened by the great British weather, encouraging consumers to make the most of the overcast conditions and head to the high street. With better weather on Bank Holiday Monday however the tables turned, with people opting to make the most of the sunshine. For the long weekend as a whole, 52% of stores reported a drop on last year’s Easter footfall.
The North of England saw the biggest uplift in retail traffic at 10.9% over the Easter weekend however footfall fell by 4.8% in the London and the South East region in the same period.
Dr Tim Denison, head of retail intelligence at Ipsos Retail Performance, said:
“There is a growing sense of optimism that the cost of living crisis is over. With more disposable income, life has become more affordable and consumer confidence has moved up a gear. The general election is not impacting shoppers’ behaviour. All the economic indicators are pointing in the right direction and the sustained increase of the RTI reflects this.
“The timing of Easter always makes it more difficult to determine the underlying trend, but we estimate that retail footfall is sitting 1.8 to 2% higher than last year, if the Easter effect is excluded.
“What surprises us, is that sales figures are lagging. Spending habits have changed, with consumers favouring spending their new-found disposable income in different ways. They are spending more of their money on experiential activities such leisure, eating out and entertainment than on shop goods . Retailers will be determined to engage with their customers and secure their share of spend in the months ahead.”
Footfall change: March 2015 vs March 2014
Scotland & Northern Ireland +7.1%
North of England +8.5%
The Midlands +3.5%
South West England & Wales +4.9%
South East England & London -2.6%
Footfall change: March 2015 vs February 2015
Scotland & Northern Ireland +7.1%
North of England +5.7%
The Midlands +7.5%
South West England & Wales +6.8%
South East England & London +5.1%
