The surge in retail footfall once non-essential stores and outdoor hospitality venues reopen in April is expected to be greater than that seen at the end of previous lockdowns.
Analysts at Springboard are forecasting that footfall will rise by up to 47.9% week-on-week from 12 April, with high streets likely to see the biggest rise of 59%. Springboard pointed to the fact that both non-essential stores and outdoor hospitality are reopening on the same date this time, unlike after the first lockdown, when hospitality reopened two weeks after retail.
At shopping centres and retail parks, footfall is expected to rise by 46% and 26%, respectively.
At the end of the first and second national lockdowns, Springboard’s data shows footfall in the first week increased by more than 40% but bigger rises are expected this time around “due to the success of the UK vaccination programme”.
The reopening in mid-April will see footfall rise by 128.5% in comparison to the same week a year earlier, but it will remain 61.8% below the 2019 level.
Diane Wehrle, Insights Director at Springboard, said: “As we approach the 12-month mark since the start of the pandemic in the UK, lockdown fatigue is at its height and the increases in footfall over the last five weeks have indicated the pent up demand for a return to normality. We know from when non-essential retail reopened at the end of Lockdowns 1 in June and 2 in December that footfall will rise sharply and we anticipate this will be more prominent than ever before with a rise of up to 47.9%.
“By mid-April, consumers will be looking for sensory and social retail experiences, reconnecting with their favourite brands and purchasing new wardrobes for a summer of social events. We are anticipating a strong initial uplift in April that will continue to rise over the summer months as the economy reopens in the UK.”
NAM Implications:
- Patently consumers will return to the streets after Lockdown…
- …with money (commute & childcare savings) available, in theory.
- Best keep in mind they have had a year to become super-savvy.
- Unwilling to accept anything less than demonstrable value for money.
- Watch this space…
