Jessica Steevens from DTZ’s Retail team in Bristol comments on festive footfall:
“Although last month’s public sector industrial action was economically damaging to some sectors, on Wednesday 30 November many retailers experienced record breaking sales. Landlords and retailers alike benefitted from the ‘strike spike’, with footfall up 30% nationally on the day. The good news is that footfall figures are set to increase throughout December.
“December 2011 is likely to produce much higher footfall figures than last year and, with Christmas Day and New Years Day both falling on a Sunday, stores will be able to maximise their trading hours over the busiest period of the year. Add to this that we have not experienced the inclement weather that blighted shopper mobility in 2010, means that year-on-year figures will make for good reading.
“However, this may not necessarily translate into an overall increase in spend, as household economics and ‘belt tightening’ mean disposable income is becoming more guarded. Despite this, High Street chains have been keen to entice shoppers into their stores, evidenced by a large amount of special offers and pre-Christmas sales, as well as the internet, in what could be the most discounted Christmas ever. Research also suggests that 1 in 3 of us will use our mobile phones this year to buy Christmas presents, as e-tailing becomes portable and even more accessible. Online deals, apps and offers are going viral via the internet as shoppers get savvy, as seen with the rise of Groupon and its competitors.
“All of this is good news for the consumer and comes at a time of widespread negativity in the retail property market. However, it should not detract from the main event in December which analysts and landlords are bracing themselves for – December quarter day, when rents for the first three months of 2012 are due.”
