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Springboard predicts retail bounce back

As cookshops and housewares stockists prepare to reopen next month, retail analyst Springboard is predicting a significant footfall increase as the high street returns, and outdoor hospitality re-opens, with 59% increases being seen in high streets.

A recent Springboard report predicts that shopping centres and retail parks footfall will rise by +46% and 26% respectively in the first week of that shops open, while greater rises are expected following the success of the UK vaccination programme and the opening of retail and hospitality.

The predicted increase in footfall suggests that it will be +128.5% higher than in the same week in 2020, although it will remain -61.8% below the 2019 level.

“As we reach the 12 month mark since the start of the pandemic in the UK, lockdown fatigue is at its height and the increases in footfall over the last few weeks has indicated the pent up demand for a return to normality,” commented Diane Wehrle, Springboard’s marketing and insights director.

“We know from when non-essential retail reopened at the end of lockdown one in June, and lockdown two in December, that footfall will rise sharply and we anticipate this will be more prominent than ever before with a rise of up to +47.9%.”

She continued: “By mid-April, consumers will be looking for sensory and social retail experiences, reconnecting with their favourite brands and purchasing new wardrobes for a summer of social events. We are anticipating a strong initial uplift in April that will continue to rise over the summer months as the economy re-opens in the UK.”

 

Top:  Springboard predicts ‘a strong uplift in April’. Shoppers pictured in York during summer 2020.

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