Poor turn-out for Bank Holiday, says shopper index
Published: 28 August 2007
Data released today shows that 73% of the 3,100 stores that make up the sample for The Retail Traffic Index suffered a year-on-year decline in footfall.
Research group SPSL has found that the number of shoppers entering retail outlets across the UK was down by 9.8% for the Saturday and Sunday together (25th and 26th) versus Saturday and Sunday (26th and 27th) last year.
On the bank holiday Monday (27th), retail footfall was down 9.7% versus the bank holiday (28th), last year.
Overall for the three days, footfall was down 9.8% year-on-year. Just 27% of stores that go to make up the index registered year-on-year growth.
According to Dr. Tim Denison, director of knowledge management at SPSL, the combination of good weather, the long-awaited consumer tipping point and sales, where retailers have been looking to dispose of stock piles, are hitting spending patterns.
He now feels all will have an increasing effect on an already burdened customer.
"In July we saw retail footfall fall below its 2006 level for the first time in six months with a 1% decline. Going forward we cannot discount the impact of rising interest rates, taxes and household bills against a background of subdued wage increases," the director said.