Footfall over the last two weeks has averaged -3.1% below the same weeks last year according to Rendle Intelligence and Insights.
With Christmas trading in 2023 widely regarded as a ‘disastrous’ for retail, the outlook for 2024 looks bleak.
Diane Wehrle, CEO of Rendle Intelligence and Insights said, “It seems that my prediction for a “cautious Christmas” for consumer spending is playing out.
The subsequent two weeks trading since Black Friday seems to have been lacklustre at best. Experience has shown that trading plateaus in the week or so following Black Friday, however, a week on week drop in footfall into stores of -9.1% followed by a rise of only +7.5% is exceptionally disappointing.
Particularly as it means that footfall over the last two weeks has averaged -3.1% below the same weeks last year, which was recognised as a pretty disastrous Christmas trading period. Moreover, footfall into stores last week dropped further behind 2023 than the week before (-3.3% last week vs -2.8%) the week before last.”
Which retail destinations are performing better?
Why the High Streets Are Out‑Shocking Shopping Centres This Christmas Season
Last week, the big malls took a hard hit: a -4.7% drop, while the -3.3% loss on the high streets was a bit more palatable.
What’s going on? It’s the pre‑Christmas party vibe. Everyone’s heading to the streets for restaurants and bars, not the empty aisles of a mall.
High streets are becoming the new holiday hotspot, while shopping just feels a little… left out.
- Grab a bite before the big day.
- Sip a drink as the shops clear out.
- Cheer for the streets; the malls can wait.
What does this suggest for the final week of the Christmas trading period?
Retailers Bet on a Late‑Shop Surge This Holiday Season
When Christmas lands on a Wednesday, retailers are eyeing the “late dash” to pull in households before the final holiday shopping spree. They’re hoping shoppers will make a
last‑minute rush to stores for gifts.
Why That Huh‑Huh Might Happen
- One full week to burn through the holiday budget – that’s a week’s worth of spending opportunities.
- Two extra days on top of the Christmas week mean more foot traffic to catch the final wave of customers.
- Retailers have already started testing out early‑holiday sales tactics.
Will Prices Start to Drop? Absolutely, It’s Decrypting!
Those who have begun rolling out discount campaigns say:
“Almost certainly. It’s like a holiday miracle for our sales, and we’re already seeing the cookie‑crunch effect.”
With December 21st looming, an epic
Super Saturday could ignite the final sales boom. Retailers may slash prices to hook late‑comers who want the last chance to snag gifts before the big day.
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