The number of high street shoppers are declining

Oct 24, 2019
Author: Pete Wilmer
Pete leads the Corporate Finance offering at Hawsons, Pete specialises in advising business acquisitions and disposals, raising finance, business valuations and employee ownership trusts (EOT).
high street

Analysts are reporting that the number of shoppers purchasing on the high street has declined by around 10% over the past year in some cities across the U.K.

Unsurprisingly, the main reasons cited are the continuing rise of online shopping along with concerns over Brexit and the economic outlook.  Furthermore, people are choosing to allocate a greater proportion of their discretionary spend on eating out and leisure reducing the amount available for going on a shopping trip.

According to latest research by BRC – Springboard retail footfall has decreased by 1.7% in September, this was exactly the same decline witnessed in September last year.

Of that:

  • High street footfall decreased by 1.8%
  • Retail park footfall improved by 0.1%
  • Shopping centre footfall decreased by 3.2%

Helen Dickinson OBE, chief executive of the BRC, says: “Retailers are facing a sustained drop in footfall with the total numbers of visitors down over 10% in the last seven years alone. With Brexit looming, many consumers are holding off from all but essential purchases and it is no surprise that the 1.7% drop in footfall in September has contributed to a similar fall in sales. High streets and shopping centres were hit hardest, with retail parks faring slightly better as they continue to entice shoppers with their varied consumer offering.”

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Pete Wilmer

Pete Wilmer

Senior Partner