Figures released today (26 August) by Springboard, the retail intelligence expert, predict a rise of 4.7% in footfall on UK high streets over the bank holiday weekend, which coincides with payday for many employees.
Insights director at Springboard, Diane Wehrle, said: “Favourable inflation rates, low unemployment and evidence of UK-wide pay rises have given consumers a new bout of confidence. Retail spend is increasing with figures from the British Retail Consortium showing an increase of 3.2% year-on-year in non-food spend in the last quarter, and with fine weather expected this weekend we expect shoppers to venture out with new-found force.”
An analysis of Springboards figures show that if the weather turns out to be good, high street footfall will increase 6.3% over the three days, compared to a decrease of 24% the previous year due to the weather being bad.
Figures have also shown that retail parks will see a 6% increase and shopping centres a 0.5% increase.
