Lower retail footfall points to consumer slowdown
June drop continues downward trend
July 8 2003
The number of shoppers across the UK during June was down 1.6 per cent year-on-year.
The figures from the FootFall Index point to a continued slowdown in consumer confidence, which may increase the likelihood of an interest rate cut this week.
David Smyth, marketing manager at FootFall said: “Although levels of customer visits to retailers picked up in June compared to May, the level of footfall in June dropped almost 2 per cent versus last year.
“This lower level of shopper visits versus last year has been a trend for every month since the beginning of the year. The only slight year on year increase occurred in April, but this was more a result of the late timing of Easter.
“With interest rate levels being debated again this week by the MPC, it would appear that the high street is still under pressure from consumers unwilling to spend at the same levels as in previous months. The reasons for this are varied, but the increase in NI contributions and lowering consumer confidence as the housing market begins to slow down have all been contributing factors.”
FootFall measures more than 150m shopper visits per month in over 110 shopping centres covering more than 6,000 retail outlets.
