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Shoppers 'deserting High Street' | Shoppers 'deserting High Street' |
(about 7 hours later) | |
Consumers continued to desert the High Street in March, a study has found. | Consumers continued to desert the High Street in March, a study has found. |
According to the latest Experian Footfall UK National Index, shopper numbers fell 1.7% across the UK. | According to the latest Experian Footfall UK National Index, shopper numbers fell 1.7% across the UK. |
Wales and the South West were the worst hit regions, with shopper numbers down 7.13%. Only the North East, South East and East Midlands recorded a rise. | |
While Experian admitted an early Easter in 2008 may have affected the figures, it added that comparative Mother's Day sales were down 1.7% this year. | While Experian admitted an early Easter in 2008 may have affected the figures, it added that comparative Mother's Day sales were down 1.7% this year. |
"Our FootFall data and latest ONS sales figures (showing a 1.9% fall in spending volumes in February) confirm what we have long suspected - that consumers are cutting back on their spending and the growth in sales during January was mainly the result of heavy discounting," said Sunita Bali, Experian's senior UK economist. | "Our FootFall data and latest ONS sales figures (showing a 1.9% fall in spending volumes in February) confirm what we have long suspected - that consumers are cutting back on their spending and the growth in sales during January was mainly the result of heavy discounting," said Sunita Bali, Experian's senior UK economist. |
Gloomy outlook | Gloomy outlook |
Looking ahead, the picture is unlikely to improve, with Experian forecasting a 1% contraction in retail sales in 2009, the first full-year decline since 1991. | Looking ahead, the picture is unlikely to improve, with Experian forecasting a 1% contraction in retail sales in 2009, the first full-year decline since 1991. |
The group also reiterated its warnings that the country's High Streets face becoming ghost-town areas. | The group also reiterated its warnings that the country's High Streets face becoming ghost-town areas. |
Across the UK, 15% of retail floor-space is now unoccupied, with some towns recording a vacancy rate of 39%, Experian added. | Across the UK, 15% of retail floor-space is now unoccupied, with some towns recording a vacancy rate of 39%, Experian added. |
Fragile consumer sentiment, rising costs and increasing rent bills are just some factors pushing retailers out of business. | Fragile consumer sentiment, rising costs and increasing rent bills are just some factors pushing retailers out of business. |
In an effort to stem the tide of closures, the Local Government Authority (LGA) recently called for urgent action, including allowing a council to take over empty properties, a cut in VAT for refurbishing shops and giving councils the power to offer breaks on rates to struggling small businesses. | In an effort to stem the tide of closures, the Local Government Authority (LGA) recently called for urgent action, including allowing a council to take over empty properties, a cut in VAT for refurbishing shops and giving councils the power to offer breaks on rates to struggling small businesses. |
Without action, experts suggest the rise of supermarkets and out-of-town shopping centres could sound the death-knell of the traditional town centre. | Without action, experts suggest the rise of supermarkets and out-of-town shopping centres could sound the death-knell of the traditional town centre. |
However, despite the dire warnings for the High Street, retail parks fared well in the latest Experian study. | However, despite the dire warnings for the High Street, retail parks fared well in the latest Experian study. |
Unseasonably warm weather prompted more people to head to retail parks to snap up DIY equipment and garden furniture, with shopper numbers rising 0.5% in the sector. | Unseasonably warm weather prompted more people to head to retail parks to snap up DIY equipment and garden furniture, with shopper numbers rising 0.5% in the sector. |
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