Retail footfall set to rise by 4.7% over Easter weekend
Retail footfall is set to increase by 4.7% year-on-year over the long Easter weekend according to figures released by Springboard.
While Easter is falling two weeks earlier than in 2014 and unlike last year, lands immediately after a national pay day, the retail intelligence specialist is predicting that retailers will benefit from consumers being tempted to spend an increased disposable income over the three shopping days of Friday 3rd, Saturday 4th and Monday 6th April.
With consumer confidence growing due to lower inflation, a decline in fuel prices and evidence of albeit modest pay rises across the country, Springboard says the difference could leave households up to £20 to £30 per month better off.
High streets are forecast to fare best over Easter with Springboard predicting a 6% year-on-year rise in footfall over the three key shopping days. It forecasts that footfall in shopping centres will see the second highest rise with footfall growing by 4.6% as shoppers start to shop for their spring wardrobes. Meanwhile, retail parks are expected to see more modest growth of 1.6% year-on-year.
Diane Wehrle, insights director at Springboard, said “Last year we saw a significant decline in retail footfall over Easter Weekend (-6.4% year-on-year), and though this year we are expecting to see figures regain strength, they will still be overall below the +6.9% year-on-year growth seen in 2013. The earlier dates for the long weekend traditionally link to positive effects for retailers and with consumer confidence high, we expect shoppers to respond with their feet buoyed by the benefit of a recent pay day.”
Good Friday is set to be the strongest day for footfall with 5.7% year-on-year growth forecast across retail destinations as shoppers take advantage of the extra day off at the end of the week.
Saturday is forecast to see further growth of 3.9% and Easter Monday will see the typical bank holiday surge with footfall expected to grow 4.6%.
