UK retail stores and destinations benefitted from a 7% increase in footfall, when compared to November, in part thanks to festive events.
New data from MRI Software showed a 13.2% rise in shopping centre footfall, followed by a 5.7% rise in retail parks, which it described as a nod to the vast array of retail and leisure options available for consumers, especially during the festive period.
High streets also saw footfall rise by 4.8% from the month prior suggesting many visited towns and cities across the UK to make the most of the festive events and attractions which are only in place for a limited period of time.
Additionally, the growing presence of online shopping continued to reshape spending habits; many retailers kicked off their Boxing Day sales online on Christmas Day providing shoppers with the opportunity to grab early bargains from the comfort of their own home.
Many key stores also remained closed on Boxing Day– John Lewis, Marks & Spencer, Next and Aldi – and many people were still visiting families.
The turn in activity came on the 27 and 28 December 2024 with shoppers emerging from their post-Christmas slumber looking to replenish their groceries and see what Boxing Day bargains are available. Over this two-day period, footfall rose by an average of 8.8% compared with the same date period last year. This was driven by a 13.2% uplift in high street activity suggesting shoppers were keen to make the most of the festive markets and enjoying leisure activities such as trips to the theatre and sporting events.
The company did warn that retailers are bracing themselves for a challenging start to 2025 following the Autumn Budget which was revealed towards the end of October; this will bring with it financial challenges with rising costs anticipated and decisions will need to be made as to whether these costs are passed onto the consumers or absorbed by the business.
MRI Software added this will no doubt impact retail stores and destinations in high streets, shopping centres and retail parks. Looking ahead to the next 6 months, MRI Software’s latest Consumer Pulse report revealed that 51% of shoppers are concerned about the rising cost of living driven primarily by higher energy and housing costs as winter approaches.
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