A year on from 7/7 and consumer confidence has returned
Figures released by FootFall, suggest that consumer confidence has finally returned twelve months after the Central London terror attacks.
The figures highlight the fourth consecutive week-on-week increase in shopper numbers, with the Retail FootFall Index outperforming 2005 levels for the first time since April.
England’s exit from the World Cup on 1st July also looks to have been good news for retailers and department stores in particular, with shopper numbers in the sector increasing by 10.5% compared to the previous week as people turned their attention away from football.
A spokesperson for FootFall said “The attacks in Central London a year ago had a major impact on the retail sector, as people avoided public places and the High Street in particular following the bombings. While this may distort the comparison with last year, it is still very promising to see a fourth consecutive week of growth in shopper numbers, providing much needed relief for retailers.
“After a very disappointing June, during which shopper numbers fell by 5.6% as people traded shopping for the warm weather and the World Cup, July has begun promisingly for retailers and they will be keen to sustain this momentum as the holiday season begins.
“Retailers will now be focusing their attention on capturing consumer demand for seasonal products such as sun cream, beachwear and luggage as consumers begin to warm up for their holidays,”
Retail FootFall Index – UK National Weekly:
Change for week 27 (3rd July – 9th July 2006): +2.8%
Change for week 27 year-on-year: +2.0%
Retail FootFall Index – UK Department Store Change for week 27 (3rd July – 9th July 2006): +10.5%
Change for week 27 year-on-year: +4.9%
