Trio of bank holidays in May give UK 3.3% boost in annual footfall - Indoors Beauty

Trio of bank holidays in May give UK 3.3% boost in annual footfall

Trio of bank holidays in May give UK 3.3% boost in annual footfall

The three bank holidays in May – together with the additional one in honour of the King’s Coronation on 8 May – helped footfall leap 3.3% throughout all UK retail locations in comparison with the identical month in 2022, although shopper resilience “could also be short-lived”.

High streets drove the rise from April 2023, with footfall growing 3.6% versus drops in footfall in buying centres and retail parks of 2.2% and 0.9% respectively, based on retail consultants MRI Springboard.

An general rise of 1.1% in footfall in May in comparison with April adopted an increase of 7.2% from March to April – the primary time that footfall has elevated in two consecutive months since August 2022.

Diane Wehrle, Insights Director at MRI Springboard, mentioned: “With three official bank holidays May 2023 was a singular month in the retail calendar, and it seems that it supplied an extra boost to retail shops and locations with an increase in footfall of 1.1% from April.

“In general phrases, the uplift in footfall in May demonstrates a higher diploma of shopper resilience than initially envisaged, however that customers are selective about after they spend.

“This is highlighted by stronger efficiency over the weekends in May when excessive road footfall rose by 6.4% from April versus 2.2% throughout weekday durations.

“With meals inflation remaining on the highest price for many years this ought to be thought to be an oasis in the desert, with a summer season of warning forward as shoppers brace themselves for additional value rises and rein in buying journeys and spending.”

Other key findings from MRI Springboard’s newest knowledge embody:

  • The hole from the 2019 footfall stage in May narrowed to -10.8% from -12% in April throughout all UK retail locations.
  • High road footfall rose by 9.2% from 2022 over the early May bank vacation weekend.
  • The stronger efficiency of excessive streets through the interval of public holidays is probably going a mirrored image of the broader hospitality providing.
  • 27% of shoppers dined out at the least as soon as per week in May, rising from 21% in February and 18% in November 2021.

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