‘Sharp shock’ for Britain’s high streets in March as shoppers only make essential trips

Inflation is ‘bad news for the fashion, lifestyle and homewares’

It was not only the high street that was affected, retailers were also disappointed by weak growth in online sales (PA Wire)

Retailers received a “sharp shock” last month as shoppers made only essential purchases in the face of cost of living pressures. Footfall across all retail destinations fell by 2.8 per cent on the month before – a significant drop from the 9.4 per cent increase seen between January and February, according to MRI Springboard.

Meanwhile, footfall on UK high streets was down 18.7 per cent on 2019 levels and 0.6 per cent below last March. MRI Springboard said inflationary pressures and interest rates had led to consumer trips now being driven by essential shopping, demonstrated by an annual decline in footfall of 1.4 per cent across high streets at the weekend – the first month this has occurred.

Diane Wehrle, marketing and insights director at MRI Springboard, said: “March delivered a sharp shock to UK retail destinations with a decline in footfall of 2.8 per cent over the month from February to March, a result that had not been anticipated following an increase in February that more than matched the result for February in previous years.