Retailers Are Disappointed While Online Shops Are Happy In The UK

Retailers in the UK are disappointed because shoppers have ditched their plans to do a shopping trip due to worries over Brexit and the increasing popularity of online stores. Boxing Day was particularly disappointing because of the 19.9% drop in the number of shoppers. At high street, footfall was down by 2.2% compared to the same time last year. In spite of earlier optimism, shoppers in out of town retail parks fell by 4.2%.

According to experts, the decline is due to several factors that include dwindling customer confidence following the EU referendum, the popularity of online stores and the changing consumer trends. Today’s consumers prefer to spend for their night outs and experiences instead of investing on physical goods. Proof of the present strength of online shopping is Amazon’s claim that it has posted its best ever festive performance when it shipped more than a billion items worldwide through Prime Membership Program.

According to Springboard, the number of persons entering a store dropped as the online volume of transactions increased on Boxing Day by at least 6.2%. For the year 2016, shopping centres have been experiencing the worst footfall which is expected to continue because high street has become more appealing due to customer’s tendency to eat out.

Most shopping centres have lost their appeal because of limited hospitality offering that is why more footfalls are recorded in high street. Most consumers who venture out during the holiday do so for leisure and not to shop. High street has the edge because it offers bars, restaurants and coffee shops.

UK households worry about financial pressure because of the fall of the pound when the referendum stoked inflation to make imports to the UK more expensive. There are also concerns regarding an economic upheaval when the process of leaving the European Union starts.

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