// Footfall on Oxford Street jumps 24% in July thanks to major events drawing international travellers to the capital
// London footfall rose 26% according to data from RSM UK
Footfall levels on London’s Oxford Street have gone on an upward trajectory in July, up 24% from June, suggesting international travel has finally made its long-awaited return.
According to RSM UK data from Datscha, footfall as a whole rose 16% in July 2022, compared to the previous month. While London, Leeds (up 26%), Brighton (up 19%) and Newcastle (up 14%) also saw significant increases in footfall.
The firm said a combination of factors will have contributed to the positive footfall levels in July, including heatwaves and the start of school summer holidays.
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Major events are also likely to have drawn international visitors to the UK, including the Women’s Euros, with the finals being hosted at London’s Wembley Stadium.
Despite multiple rail strikes putting a further strain on the retail and wider hospitality industry, footfall levels have remained robust, going against the trend of falling consumer confidence which hit an all-time low in July.
RSM UK partner and head of retail Jacqui Baker said: “Retailers are reaping the benefits of increased footfall. Despite the mounting pressures being faced by consumers in the form of rising energy prices, inflation and the cost-of-living crisis, footfall levels have managed to hold up significantly well in July. While it’s managing to resist succumbing to the same drops in consumer confidence, we suspect there’s a lag and it’s only a matter of time before footfall starts to follow suit.
“It will undoubtably be a tough period ahead for the retail sector. With another jump in energy bills looming in October, this will see consumers tighten their belts even further. It’s crucial that retailers start thinking ahead in terms of how they can cut costs and continue to attract consumers to their stores. The coming months will be an opportune time for the government to step in and provide additional assistance, or there’s a very bumpy ride ahead for these retailers.”
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