Bumper Bank Holiday drives footfall levels up
Bumper bank holidays in May helped hike footfall levels as work-free Brits flocked to the high streets to drink and shop in a welcomed boost for businesses.
Footfall over the last month climbed 3.6 per cent, the second month in a row in which levels have risen following a 3.3 per cent jump in April, figures from Springboard have shown.
This is the first time since last August that footfall figures have steadily increased – i.e. risen two months in a row – as the Easter holidays in April and warmer weather in May drove shoppers back out onto the high street. Brits were also treated to an extra bank holiday thanks to the King’s Coronation, alongside the traditional early May and spring bank holiday.
This extra free time drove consumers to spend more on dining out with 27 per cent of customers visiting restaurants at least once a week, up from 21 per cent in February.
“With three official bank holidays, May 2023 was a unique month in the retail calendar,” Diane Wehrle, insights director at MRI Springboard said.
“The stronger performance of high streets during what was a period of public holidays is likely to reflect their wider hospitality offering. Indeed, as domestic essential food prices continue to soar, and more hospitality operators offer discounts and vouchers, “ she added.
The surge in people shopping and dining out is a welcomed boost to retail and hospitality businesses, which have been battling a slowdown in consumer spending and rising energy costs.
However, warmer weather seems to have helped consumers shrug off cost of living woes.
Figures by Barclays show that over latest bank holiday weekend, where temperatures reached 22 degrees Celsius, pub and bar transactions were up 27.3 per cent.
“This uplift in trade will be some welcome news for the hospitality sector, amidst the ongoing strain of rising energy bills and the impact of the cost of living,” Marc Pettican, head of Barclaycard Payments, said.
“Businesses will no doubt remain hopeful that customers continue to offer their support and keep venues busy as we head into the summer season.”