Retail footfall remained upbeat in March as overall visitor activity rose by 4.6 per cent from the month before. This uplift was predominantly driven by a 7 per cent rise in high streets followed by a 4.3 per cent increase in retail parks; both trends were influenced by the fourth week of the month which coincided with payday and Mother’s Day. Shopping centre activity, however, fell marginally by -0.1 per cent from the month prior.
Despite the shift in Easter holiday timings this year, footfall remained 2.6 per cent higher than last year with strong activity recorded in high streets (+3.2 per cent), retail parks (+2.6 per cent), and shopping centres (+1.1 per cent). This was mainly driven by the final week of the month where footfall was 7 per cent higher in all UK retail destinations however, this is in comparison to Easter weekend last year and will be abnormally higher due to retail stores and destinations remaining closed on Easter Sunday.
However, the retail sector is not without its challenges. Heading into April retailers, as well as many other sectors, are about to be hit with a £5.56bn bill, following the measures implemented during the Autumn budget in 2024. While £1.76bn will be absorbed by retailers themselves, it’s estimated that £1.72bn will be passed onto the consumer through price increases. The remaining £2.08bn is likely to be invested by retail leaders in cost optimisation projects that will drive operational efficiencies with digital transformation strategies set to deliver high impact in terms of cost and productivity.
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