Footfall decline continues
Published: 09 January, 2017
Springboard Index kicks off 2017 with 5.17 per cent drop in mall traffic
The first week of the year was not unfortunately a positive start, with an annual decline in the Springboard Index (a weighted average of the High Street, Shopping Centre and Retail Park indices) of -2.6 per cent. This is in part likely to be a result of the movement of New Year with the week containing both New Year’s Day on a Sunday and the Bank Holiday on Monday (plus an additional Holiday in Scotland) compared to a standard week in 2016 but this aside, the results are reflective of the long term trend of decline. Naturally, there was a comprehensive drop against the previous Sales week as consumers returned to work.
That said, High Streets only declined by -0.2 per cent with the Midlands, East and Greater London all seeing growth for the week. Wales saw the greatest decline falling -9.0 per cent on top of a drop of -3.2 per cent for the same week in 2016. Retail Parks and Shopping Centres took the brunt of the drop in footfall with volumes falling -4.6 per cent and -5.7 per cent respectively. Although Retail Parks have been seeing a slowing in volumes over the past year, this drop of -4.6 per cent is the lowest fall since Q2 last year. Only the East saw an uplift for Shopping Centres of +1.6 per cent, with the remainder ranging from -3.0 per cent in the South East to -14.1 per cent in Scotland.