Daily Newsletter

08 August 2023

Daily Newsletter

08 August 2023

BRC says total UK footfall up by 1.8% YoY in July 2023

Scotland registered the highest YoY increase in footfall of 5.9%.

Jangoulun Singsit August 07 2023

Total retail footfall in the UK increased by 1.8% last month on a year-on-year basis (YoY), according to data from the British Retail Consortium (BRC) and Sensormatic IQ.

The growth is also above June 2023’s figure of -1.9%.

Footfall for high streets in July rose by 1.6% YoY, up from 0.6% in the previous month.

Shopping centres across the UK reported footfall growth of 0.2% in July, up from -4.2% in June this year.

Driven by the growth in outlet sites, footfall at other retail locations increased by 8.6%.

BRC data also revealed that Scotland registered the highest YoY increase in footfall of +5.9%.

England and Northern Ireland reported footfall growth of 1.8% and 1.4% over the month.

Wales registered a YoY decrease of -0.1%.

British Retail Consortium chief executive Helen Dickinson said: "July saw modest growth in footfall numbers in all locations across most major cities in the UK, with Scotland and the Northeast leading the way. The rainy start to the summer holidays drove many people off the streets and into the shops, in contrast to last year's heatwave, which kept people outside in the sun.

“The recovery in international tourism continues to drive shopper numbers up in major cities. The government should capitalise on this by reintroducing a tax-free shopping scheme, as exists in all other European Union countries. This would encourage more visitors and stimulate more spending, boosting economic growth and employment.”

APAC duty-free market expected to grow fastest, fueled by rising income levels and international travelers

Per latest GlobalData estimates, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats. That said, growth will be held in check in the years ahead by the permanent erosion of disposable income from the heightened cost of living impacting demand for air travel. The duty-free market in the APAC region showed strong growth in 2022, as traveler numbers surged in response to the lifting of travel restrictions. To cater for rising demand in the region, many airports in the APAC area are expanding and modernizing, giving duty-free stores greater space that will allow them to attract more customers. The future of APAC duty-free retail is also being shaped by the adoption of technology. The rise in online shopping, mobile payments, and digital marketing are giving businesses new ways to connect with customers and improve the shopping experience.

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