Widespread sales hit high street as shopper numbers plummet

Retail FootFall Index - UK National
Year-on-year (vs 2006)
Monday 10 December 2007: - 0.9%
Tuesday 11 December 2007: - 2.2%
Wednesday 12 December 2007: - 2.6%
Thursday 13 December 2007: - 5.9%



Nottingham, UK, 14 December 2007 - The traditional Christmas build-up on the High Street has now gone into reverse with shopper numbers plummeting day by day, according to the latest figures from Experian® company FootFall. As the seasonal slump begins to cause panic amongst retailers, many are launching their high-profile sales early with further sales and discounting expected on the High Street by the weekend.



Figures from the Retail FootFall Index (RFI) for the first four days of this week show the year-on-year gap in shopper numbers almost doubling on some days, with a fall of 0.9% on Monday stretching to 2.2% on Tuesday, 2.6% on Wednesday and then to a worrying 5.9% by Thursday.



Martin Davies from Experian comments: “As Christmas looms, shopper numbers are continuing to defy all expectations. It is unlikely that UK retailers will be able to recoup the damage already caused, especially if this Saturday is as much of a washout as the last two weekends.



“The fight is now on for what remains of consumer spend this year. The High Street’s usual pre-Christmas discrete discounting is likely to make way for full-blown sales, as retailers realise that it is better to sell low than not sell at all. This is especially true in the fashion sector where Winter stock – particularly ‘party season’ fashion – needs to be cleared before the New Year. With so few shoppers left to fight for it is likely that whoever leads with their sales may get the edge.



“The massive drops in High Street footfall that we are seeing this week are more than just the fallout from a year of financial uncertainty. The way consumers shop has irreversibly changed and these latest figures just add fuel to the fire.



“The surge in Internet shopping, combined with growing trends such as the non-food items offered by the major supermarkets, has changed the way the nation views its shopping and spawned a generation of tactical shoppers who know how to play the waiting game. These forces have been at play for a while but the impact they have had in recent weeks marks a significant watershed.



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For further information please contact Leona Abson or Lyndsey George at the FootFall press office on 0121 711 5029.



Notes to Editors
Please note, all information presented in this press release and references to the Retail FootFall Index (RFI) is owned by FootFall, an Experian company. By issuing this release, FootFall is allowing the use of this statistical information in either printed, spoken or written format. However, the source of this information must be attributed to FootFall Limited, an Experian company, and the use of statistics to the Retail FootFall Index.



The Retail FootFall Index is endorsed by the BCSC, the membership organisation that represents the retail property industry, and, as such, is regarded as representative of UK shopping habits. The RFI now measures over 150 million shopper visits per month in over 200 retail centres throughout the UK, covering more than 12,000 retail outlets. Over 80% of the UK's population is contained within the catchment area of the basket of centres from which the RFI is produced.



The word 'Experian' is a registered trademark in the EU and other countries and is owned by Experian Ltd and/or its associated companies.



About Experian’s Business Strategies division
FootFall is part Experian’s Business Strategies division, one of the UK's leading economic forecasters, and is a world leader in the provision of retail business information to the retail and retail property markets. The Business Strategies division provides an understanding of consumers, markets and economies in the UK and around the world, past, present and future. Its focus is consumer profiling and market segmentation, retail property analysis, economic forecasting and public policy research, supporting businesses, policy makers and investors in making tactical and strategic decisions. As part of the Experian group, it has access to a wealth of research data and innovative software solutions.



The division’s economic research team is devoted to analysing national, regional and local economies for a range of public and private sector clients. Its statisticians, econometricians, sociologists, geographers, market researchers and economists carry out extensive research into the underlying drivers of social, economic and market change.



Issued on behalf of FootFall by Bright, 10 St Catherine’s Court, Herbert Road, Solihull, West Midlands, B91 3QE For further information please contact Lyndsey George or Leona Abson at Bright on Tel: +44 (0) 121 711 5000 Fax: +44 (0) 121 711 5001 or Email: lyndsey@bright-consultancy.co.uk.

14/12/2007