With Easter falling in April this year, comparative retail footfall in March tumbled with concerns that the trend could continue as the economic gloom caused by Donald Trump’s tariff war hits consumer confidence.
The BRC-Sensormatic analysis shows that UK footfall last month decreased by 5.4% year-on-year, down from 0.2% in February.
Footfall on high streets slid 4.0%, while shopping centres were down 5.8%. However, retail parks held up better than other locations (-1.2%) as the offer of hospitality and leisure outlets alongside retail, together with free parking, attracted more shoppers.
The British Retail Consortium (BRC) noted that while the impact of US tariffs was difficult to calculate, it could have a chilling effect on people’s willingness to spend, especially on expensive items. “Global uncertainties resulting from tariffs and a potential economic slowdown could reduce the appetite for shopping trips in the coming months,” said Chief Executive Helen Dickinson.
She called on the government to find ways to boost consumer confidence and ensure retailers can invest in jobs and stores. “The upcoming business rates reform, aimed at supporting high streets could make the situation worse for thousands of retail stores caught by the proposed new, higher threshold,” Dickinson said. “This is why it is vital that no store pays more as a result of these reforms.”
Andy Sumpter, Retail Consultant EMEA for Sensormatic, added: “With Easter this year landing in April, some of the downturn in store visits in March could have been from consumers withholding Easter spend. Retailers will now be hoping that strong Easter trading can help balance out a slow start to Spring.”
NAM Implications:
- Uncertainty is the new certainty…
- …for consumers, retailers and suppliers.
- (At least we have five years of practice at coping, via Lockdown fallout)
- Suppliers and retailers need to focus on rebuilding and maintaining consumer trust…
- …above all.
- Meanwhile, spending time awaiting evidence of governments’ increased sensitivity to consumer-voter needs…
- …might be put to better use?
- All else is detail…
