// High street footfall across the UK continues to lag behind pre-pandemic levels
// International travel restrictions dampened the numbers of shoppers in central London hubs
Oxford Street has struggled to return to its pre-pandemic levels of success with footfall down 46% on pre-Covid levels.
Overall, high street footfall levels were down 23% in February as retailers brace for rising costs from April, according to RSM, with the overall decline in footfall being the worst in London.
Key shopping streets in major Northern cities are also suffering, with footfall on Manchester’s Market Street down 38% and Newcastle’s Northumberland Street down 37%. Footfall on Buchanan Street in Glasgow is also down 25%.
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Restrictions on international travel and testing requirements amid the height of the Covid-19 outbreak which have now been scrapped, deterred tourists from visiting the UK, and consequently hampered footfall levels particularly in London.
In addition to those measures, storm Eunice, concerns about the rising cost of living, and a post-pandemic behavioural shift to online shopping have all contributed to the drop off in footfall.
Although, in contrast with the general trend some shopping destinations did mark increases in footfall. Guildford achieved a 28% increase in footfall while Leeds saw a 7% rise.
However, there was hope that the worst of the pandemic for retailers has come and gone.
RSM partner and head of retail Jacqui Baker: “Despite high street footfall being below pre-pandemic levels, there’s hope that the worst of the pandemic is now behind us, particularly with the removal of all Covid restrictions which is a huge step in the right direction for the sector.”
However, Baker flagged that the cost-of-living crisis could hamper the high street’s revival.
“Consumer confidence is already fragile due to the pandemic and is now facing another setback as a result of the cost of living crisis. Fears of soaring energy costs, higher mortgage repayments and increased petrol prices are all squeezing incomes and creating competition for household spend, which, in turn, may impact future footfall.”
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