🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Britain's Christmas shopping hurt by rail strikes and snow

Published 12/16/2022, 11:40 AM
Updated 12/16/2022, 11:46 AM
© Reuters. FILE PHOTO: People carry shopping bags as they walk past Christmas themed shop displays on Regent Street in London, December 4, 2022. REUTERS/Henry Nicholls

LONDON (Reuters) - British retailers have been hurt by a sharp dip in shopper numbers this week, a crucial Christmas trading period, as snowy weather and a national rail strike deterred people from venturing out, researcher Springboard said on Friday.

It said shopper numbers, or footfall, in UK retail destinations from Monday to 1100 GMT on Friday was down 7.5% from the week before.

Springboard said traffic was particularly weak on high streets - down 14% on last week.

"The impact on high streets will have emanated from a mix of employees choosing to work at home due to the rail strike, and the cancellation of shopping and leisure trips. The cold weather is also likely to have played a part," it said.

On a year-on-year basis total footfall is down 3.8% so far this week, it added.

With UK inflation running at 10.7% and consumer confidence close to record lows, retailers were already fearing a muted Christmas trading period, with a raft of surveys showing most consumers plan to do less holiday shopping this year.

© Reuters. FILE PHOTO: People carry shopping bags as they walk past Christmas themed shop displays on Regent Street in London, December 4, 2022. REUTERS/Henry Nicholls

Several British retailers, including Marks & Spencer (OTC:MAKSY) and Primark, have cautioned on the outlook in recent months, highlighting the stress felt by many households as the cost-of-living crisis eats into their finances.

Official data published on Friday showed retail sales slid unexpectedly in November, despite the men's soccer World Cup and Black Friday sales promotions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.