April 15, 2019

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‘No-splurge’ shopper attitude continues in March

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The “no-splurge” attitude of customers has continued regardless of an increase in UK shopper numbers final month, a survey has steered.

The variety of customers visiting shops in March was up 1.4% year-on-year, based on the British Retail Consortium and Springboard survey.

But Springboard mentioned the advance mirrored a beneficial comparability to March 2018 when footfall dropped by 6%.

“We continue to be in the midst of a no-splurge culture,” mentioned Springboard.

Diane Wehrle, insights director at Springboard, mentioned customers remained centered on “prudence”.

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“This becomes very obvious when looking at footfall in each week; with the month being bookended by two strong weeks, while footfall plunged in the middle three weeks,” she added.

Tough surroundings

Across the UK, High Street footfall grew by 2.5% yearly in March.

Footfall in retail parks grew by 1.5%, however buying centre footfall faltered by 1% year-on-year.

Helen Dickinson, chief govt of the BRC, mentioned: “Retailers can be relieved to see footfall up from final 12 months although that is was closely influenced by the climate: whereas customers in 2018 have been contending with the ‘Beast from the East’, this March has been gentle by comparability.

“Unfortunately, the upper footfall has not translated into larger spending.”

Several retailers are struggling in the robust High Street surroundings, with Debenhams not too long ago falling into administration earlier than being rescued by its lenders.

Last 12 months, Poundworld, Toys R Us and Maplin all went bust and disappeared altogether.

Other family names – Homebase, Mothercare, Carpetright and New Look – have been compelled into restructuring offers with their landlords, closing a whole lot of shops.

Music chain HMV not too long ago fell into administration earlier than being purchased.

The rising reputation of on-line buying, larger enterprise charges, rising labour prices and the autumn in the pound following the Brexit vote – which has elevated the price of imported items – have all been blamed for contributing to retailers’ woes.

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