UK High Street Christmas Shopping Declines Amid Cost-of-Living Pressures
Footfall on December 23 dropped 5.3% compared to last year, signaling weak consumer confidence and financial strain.
- Retailers experienced a 5.3% year-on-year drop in high street footfall on December 23, traditionally a peak shopping day.
- While footfall across all retail destinations rose by 28.5% compared to the previous week, the year-on-year decline highlights ongoing cost-of-living challenges for many households.
- Shopping centres and retail parks saw modest year-on-year increases of 1.4% and 4.9%, respectively, while high streets lagged behind with only a 1.8% weekly increase.
- Consumer confidence in the economy fell sharply in December, with spending intentions declining across nearly all retail categories, according to British Retail Consortium data.
- Experts warn that this holiday season may mark the last significant spending period before a prolonged consumer spending freeze in early 2025.