Footfall
UK retail continues to come under pressure, with declining footfall.

Retail footfall fell by 3.3 per cent last month according to the British Retail Consortium (BRC) and Springboard.

The considerable decline was attributed to poor weather conditions and lower dispensable incomes. 

Whilst a lower decline than the 6 per cent recorded in March, it still marked an “unprecedented” 4.8 per cent decline over the two months.

Diane Wehrle, of Springboard, commented on the figures:

“Not since the depths of recession in 2009 has footfall over March and April declined to such a degree.”

“Even then the drop was less severe at minus 3.8 per cent.”

2018 has market a difficult year thus far for retail, with high street giants such as Toys R Us and Maplins closing their doors.

Moreover, the Visa consumer spending index, also revealed today, showed that spending in stores to have fallen 5.4 percent in April compared to the same period the year previously.

Whilst shoppers have been turning to the convenience of online, UK online retail sales growth similarly slowed to 12.1 per cent in 2017, according to the latest figures from the IMRG Capgemini e-Retail Sales Index.

What’s more, forecasts for 2018 are also set to slow, in part due to rising inflation rates and wages pressures.