The coronavirus lockdown has resulted in the downfall of the
UK retail sector. Shops were closed
and businesses stopped operating for a while. Since a few weeks already, stores
have gradually started welcoming visitors again. However, footfall was quite
low.
According to the data recorded, the number of people walking
around the high street has slightly increased. Nonetheless, in comparison to
previous years, it is still low. The British
Retail Consortium (BRC) trade body and the market research firm ShopperTrak
released a report which revealed that footfall was down 42% in annual terms in
July. June recorded a 63% decline. The former advanced that the reopening of pubs
and restaurants on the 4th of July in England helped to generate
some additional visits to the high street.
Nonetheless, the future for physical stores is still uncertain. Several major firms are cutting down jobs to be able to save their business. The chief executive of BRC, Helen Dickinson advanced, “It remains too soon to say how well retail will recover in the coming months, but it clearly remains a difficult trading period for many physical retailers”. Some experts are arguing that recovery is being driven by a boom in online shopping and extra spending at grocery stores since people are eating out less.
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