More misery for London retail as footfall flatlines
London retailers took yet another battering over December as footfall fell -1.4 per cent on a year-to-year basis, according to new figures from the British Retail Consortium (BRC).
Festive cheer did not appear to be enough to drag shoppers back to the capital’s high streets, with the figure widening from -0.4 per cent the prior month.
Across the whole of the UK, footfall tumbled by 4.2 per cent in December, down from 1.7 per cent in November.
Helen Dickinson, chief executive of the BRC said that December’s heavy rain left many “shoppers reluctant to brave the elements”.
“This led to a substantial decline in footfall levels compared to December 2022, when there was significant pent-up demand for in-store shopping post Covid-restrictions.
“Some cities, such as Edinburgh, bucked the trend, and saw footfall levels rise in December thanks to recent investment in new, exciting shopping destinations,” she explained.
Today’s reading is another blow for retailers on the high street who have been battered over the past year by weak spending and high inflation.
Dickinson said she is now calling for the political parties to set out a “clear and cohesive plan for retail in their manifestos”.
“This plan must take account of the regulatory cost burden and broken business rates system which are limiting business investment and growth.
“Ways also need to be found to create thriving shopping destinations and drive customer footfall back up again in 2024.”
However, London’s West End is said to have had a more buoyant December than its rival high streets.
Dee Corsi, who heads up the New West End Company, said that footfall on Boxing Day grew by 20 per cent compared with November and by six per cent compared to December last year.
“More than just shopping, many flock here to enjoy all that the area has to offer across the festive season – little wonder then that we have had a busy December, rounded off with a bumper Boxing Day to set the West End up for a positive start to 2024.”
City A.M has contacted respective parties for a comment.