Retailers must take care not to lose World Cup momentum
Figures released today by FootFall, suggest that fortunes for UK retailers may be picking up after a challenging year.
The Retail FootFall Index for last week recorded no change in the number of people visiting retail destinations compared to the previous week and a drop of only 2.9% compared to the previous year, despite England’s World Cup game against Ecuador causing shopper numbers to fall by almost 20% on Sunday 25th June 2006. This contrasts with a fall in shopper numbers of over 8% earlier this month when the Retail FootFall Index reached what could prove to be its lowest point of 2006.
Overall shopper numbers have been boosted by the buoyed consumer confidence resulting from the World Cup, and the town centre index has performed particularly well, climbing 0.6% week-on-week and down by only 0.9% compared to 2005.
Natasha Burton, spokesperson for FootFall, said “People have changed the way they shop during the World Cup, making shorter and more focused trips to the High Street in order to miss as little of the action as possible, rather than spending a number of hours browsing. This has had a positive effect on the Town Centre Index, signalling the reversal of a trend which has seen the High Street lag behind department stores in the last twelve months.
“While the World Cup has clearly had a dramatic effect on consumer confidence, retailers will be hoping this marks a renewed and sustained interest in the High Street after a lean year, during which many people have tightened their purse strings in order to pay off credit card balances and unsecured loan repayments.
“With spending returning to the agenda, the key for retailers now is to ensure they retain consumers’ interest beyond the World Cup final, with creative marketing campaigns and promotional activity geared towards maintaining shopper numbers throughout the remainder of the year,”
Retail FootFall Index – UK National Weekly:
Change for week 25 (19th June 2006 – 25th June 2006): +0.0%
Change for week 25 year-on-year: – 2.9%
Retail FootFall Index – UK Town Centre:
Change for week 25 (19th June 2006 – 25th June 2006): +0.6%
Change for week 25 year-on-year: – 0.9%
