The October Retail FootFall Index (RFI) shows another frightening month for retailers as footfall levels dropped by 5.2 per cent compared to the same month last year, while the month-on-month change showed an increase of 3.6 per cent.
The RFI, which measures visitors to UK retailers, showed that the half-term holidays and Halloween helped retailers attract the month-on-month increase in shopper numbers, though the underlying trend for the year remains a cause for concern.
The week 30 October to 5 November 2006 did provide some relief for retailers, however, with the 5.3 per cent week-on-week decline in footfall less than expected after the half-term shopping rush, bringing 2006 levels back in line with those seen in 2004.
Natasha Burton, spokesperson for FootFall, said: "Consumer demand remains fragile, with retail sales growth slowing in recent months. Inflation also looked to claw back sales revenue deficits compared to last year.
"The rise in the base rate of interest by the Monetary Policy Committee in November is also likely to have a significant impact on consumers' propensity to spend, as their mortgage payments rise alongside the cost of servicing debt."
Retail Footfall Index UK - October
Month-on-month (October 2006 v September 2006) UP +3.6%
Year-on-year (October 2006 v October 2005) DOWN -5.2%
Have headline rents in shoping centres started to fall?
- Spalding outlet springs into life
- Thurrock Decathlon in make or break for sport...
- Shopping Centre Magazine
- Bouverie Place goes on site in Folkestone
- Topshop goes big on Liverpool
- Fast times
- Hamley's expands into Ireland with Dundrum an...
- Tesco and Next anchor Imperial Park extension
- Tiffany and Mulberry sign at Westfield London
- Argos and Lidl sign at Palace Exchange, Enfield
