SME NewsFootFall Index Shows Shoppers Staying Home
More British shoppers stay at home in February as footfall feels the credit crunch
Whether or not we’re heading towards a recession, one thing is for sure – British shoppers are spending less time shopping, according to the latest data from the Experian FootFall Index.
According to the latest figures from Experian’s FootFall Index, the number of shopping visits declined year-on-year by 1.5%. This is clearly becoming a trend as its the seventh consecutive month that such a fall has been recorded.
Commenting on the figures, Jonathan Foster at accountants Ernst and young said:
After a better than expected discount driven January, February’s poor figures underline the tough trading conditions for UK retailers. With little change in consumer sentiment in 2008, the sector outlook is gloomy, particularly for big ticket goods such as electricals and furniture – so we expect further profit warnings and casualties are inevitable
Looks like the consumer is no longer willing or able to prop up UK economic growth.
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