Growth in retail footfall slowed for the third month in a row, according to new figures, as customers cut back on spending amid the cost-of-living crisis.
Statistics from retail analyst Springboard said footfall increased just 6.8% in September, compared to 8.6% in August and 15.6% in July.
“Superficially September’s results suggest that footfall has largely been unaffected by the cost-of-living crisis, with the gap from 2019 narrowing marginally to minus 12.6% from minus 13.2% in August,” said Springboard marketing and insights director Diane Wehrle, quoted in the Retail Gazette.
“However, far more revealing of the severity of the economic situation facing households is provided by a comparison of footfall in September 2022 with September 2021, when all Covid restrictions had been removed.”
“High streets are not only facing the challenge of inflation, but hybrid working is also impacting the recovery of footfall.“
“With around a half of all employees continuing to work at home for at least part of the working week, activity in high streets remains significantly lower than in 2019, particularly during the Monday to Friday period.”