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Decline in number of UK shoppers

Posted By admin On April 1, 2009 @ 1:53 pm In Business, Finance, Leisure, Retail | 1 Comment

March sees another poor month for the retail industry. March sees another poor month for the retail industry.

According to the latest figures from the Experian Footfall UK National Index, shoppers are continuing to stay away from the High Street.

2009 continues to be a bad year for the retail market as shopping activity in March remained subdued with numbers of shoppers in the UK falling by 1.7%.

The largest year-on-year falls occurred in Wales and the South West, which were down by 7.13%. Scotland, Yorkshire and Humberside also experienced sharp drops in retail footfall.

The credit crunch has crippled the retail industry with many stores going into administration and people being unable to afford to go shopping. Weakened consumer confidence, rising costs and an increase in rent bills are pushing some retailers to the brink.

Experian states that 15% of retail floor space is now unoccupied, with some towns experiencing a vacancy rate of 39%.

While the High Street is suffering the most, retail parks are faring better in the current economic climate. People shopping for DIY goods increased by 0.5% over the month.

Experian stated: “The government needs to look closely at the impact of more empty high streets on local communities. This is not just a problem for retailers; it is becoming a major social issue as smaller market towns across Britain are in danger of serious decline.

“The plan to increase retail business rates by 5 per cent will add considerable cost pressure. The short term benefit to the Treasury of such a tax increase needs to be put against the inevitable social damage to UK towns and cities caused by abandoned high streets, redundancy and large-scale business failure.”


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