UK retail in February saw a rise in footfall across all destinations as shoppers took advantage of the half-term break and Valentine’s Day.
Footfall across retail destinations increased by 7.3% month-on-month in February, according to MRI Software, aligning with historical trends showing a return to shopping following a slump Post-Christmas.
Shopping centres and high streets got a big boost from the half-term, as footfall rose by 9% and 11.6% week-on-week respectively.
Valentine’s Day saw footfall soar 22.3%, compared to the same day the week before, led by a 27.1% rise in high streets, a 15.4% uplift in retail parks, and an 18.9% increase in shopping centres.
Annual footfall in February across all destinations fell by 0.3%. This was mainly driven by a 1.5% decline in high street activity and likely spurred on by flu season, travel disruptions, and Storm Herminia.
However, annual footfall across shopping centres and retail parks grew by 0.2% and 1.9% respectively.
MRI Software marketing and insights director Jenni Matthews said: “Looking ahead, there is cautious optimism among retailers. MRI Software’s weekly insights from the inside survey revealed that 55% of retailers saw stronger sales during February’s half-term break compared to last year.
“However, the outlook for March is more reserved, with 58% of retailers expecting lower sales than in 2024, likely due to the later timing of Easter, which shifts key spending into April. Optimism also prevailed among shoppers as consumer confidence improved in February by 2 points as reported by NIQ GFK.
“This may have been influenced by the Bank of England interest rate cut earlier in the month, providing a glimmer of hope for some people. However, the majority still appear to be impacted by the cost-of-living crisis.
“As the sector prepares for the upcoming Spring Budget, attention is turning to how financial policies may further influence consumer confidence and retail spending. Potential changes in tax, public spending, and household support will be closely monitored for its impact on disposable income and retail demand in the months ahead.”
No comments yet