Weekly Wrap, Week 44 2024: Movement Towards Larger Managed Retail Spaces

Recent footfall data from Huq Industries for week 44, 2024, reveals a complex landscape of consumer behaviour across various types of retail centres in the UK.

This comprehensive analysis covers retail parks, major retail centres, high streets, town centres, local retail centres, and shopping centres, highlighting significant regional variations and trends in footfall, dwell time, and weekday visitation.

Daily Footfall by Retail Centre Type

Retail Parks

The Retail Parks Footfall Report notes declining footfall across several regions. In the West Midlands, retail parks saw a slight week-on-week decrease in footfall by 0.5%, but a year-on-year increase of 2.6%. Dwell time in this region rose significantly compared to last year, suggesting a more engaged consumer base.

Conversely, the East of England experienced a sharp year-on-year decline in footfall, although dwell time increased indicating that fewer, but more engaged consumers are visiting. This region, along with the South East, which saw a steep year-on-year decline contrasts with the resilience observed in Scotland and London, where footfall has been more robust.

Major Retail Centres

The Footfall Data Highlights for major retail centres show continued growth for Scotland, with a significant increase in average daily footfall week-on-week. This is in stark contrast to the North East, where a decrease in dwell time also suggests a shift towards quicker, more purpose-driven visits.

High Streets & Town Centres

The High Streets & Town Centres Footfall Report indicates the sector flatlining this week, for example the West Midlands and Yorkshire and the Humber are experiencing only slight fluctuations in footfall around 1%. Dwell time varied significantly across regions, with the South East seeing an increase in working weekday visitation share by 5.7%, suggesting a shift in consumer visit patterns.

Local Retail Centres

Local retail centres, as detailed in the Local Retail Centres Footfall Report, show continued downward pressure on footfall. The West Midlands and London are however notable for their year-on-year increases in dwell time, indicating longer engagement at retail centres. The South West showed the most challenging decrease in footfall, despite an increase in dwell time year-on-year.

Shopping Centres

Finally, the UK Shopping Centres Footfall Report highlights growth in Yorkshire and the performance of specific centres like Bluewater in the South East, which is showing significant positive changes in visitation. Conversely, centres like Freeport Braintree are experiencing declines.

Market Outlook

Looking ahead, the direction of the latest footfall data suggests varied trends across the UK. Regions like the West Midlands might continue to see a gradual increase in footfall, supported by the positive year-on-year data. However, areas like the East of England may need to strategise differently to counteract the declining footfall numbers. Retailers and location intelligence retail analysts will need to monitor these trends closely to adapt to the rapidly changing market conditions.