Shopping excursions have taken a hit, with the latest figures showing a 12 pecent drop in shopping centre visits and a six percent fall on the high street compared to last year.
This significant slump in footfall might be attributed to the fact that only 15 percent of consumers are willing to brave poor weather conditions to shop, as per Virgin Media O2 Business’s recent Movers Index.
Yet, retailers are not standing idly by; they’re actively engaging strategies to entice customers despite the Met Office‘s grim forecast of the “wettest summer in over a hundred years”. Tactics include offering discounts (45 percent) and organising special events (47 percent).
The report also highlights a preference among Brits (63 percent) for in-person shopping experiences, with businesses now banking on post-work Friday retail therapy and end-of-month spending sprees to salvage the summer season.
According to the index, which amalgamates anonymised movement data from O2 Motion with survey results, there’s a notable consumer lean towards large shopping centres (26 percent), with local high streets (19 percent) and retail parks (18 percent) trailing behind.
Moreover, shoppers seem ready to splash out approximately 29 percent more in local shops than at major retailers like Amazon.
Office attendance has been on an upward trajectory for the past quarter, with 89 percent of employees commuting at least once weekly.
And when it comes to combining work with leisure, Fridays emerge as the prime day for a spot of shopping after office hours (36 percent).
Jo Bertram, managing director of Virgin Media O2 Business, commented: “Our latest index shows Britons increasingly choosing to shop in-person and spend more to support local business.”
“This coincides with rising office attendance, leading to a boost in lunch and post-work spending in towns and cities.”
Strand Partners conducted an online survey of 2,000 UK adults between June 28 and July 2.