Consumer behaviour analyst Experian has released shopper footfall data for the week commencing 22 August 2011 in the UK. It reveals:
Experian Retail FootFall Index – UK National Weekly:
Change for week 34 (22–28August 2011): +5.0%
Change for week 34 year-on-year: -3.4 %
Experian Retail FootFall Index – Retail Park Weekly:
Change for week 34 (22–28 August 2011): +3.4 %
Change for week 34 year-on-year: -2.1%
This week’s UK National Index shows an uplift of 5% compared to last week. The weekly growth is expected during the last full week of the school holidays for most regions, said Experian.
However, compared to the same week last year, the index shows a decrease of 3.4%. The week unfortunately hasn’t continued with the year-on-year improvements in performance as seen last week.
The latest CBI Distributive Trade Survey also reported sales dropped significantly following the riots at the start of August. These recent events and falling equity prices will have no doubt dented consumer confidence, said Experian.
Usually, as payday coincides with the last week of the month, this promotes a boost in shoppers but, with the tough economic climate, consumers will be cutting back their expenditure on discretionary purchases and searching for bargains, Experian said.
Retail parks reported a decline of 2.1% compared to the same week last year, a marked improvement on last week’s performance. Consumers may have been considering purchasing items in this channel with the Bank Holiday Monday in mind, said Experian.