Pedestrian traffic fell 6.3%, as an immediate result of the terrorist attacks but since 11 September there has been a gradual recovery in the retail industry and consumer confidence has been largely restored. But the comparative UK figures are somewhat distorted because the comparable weeks last year saw the peak of the fuel crisis - when oil refineries and depots were blockaded by an unlikely alliance of farmers and hauliers - meaning that shoppers were physically unable to get to the malls because their cars had no petrol.
David Smyth, marketing manager at FootFall, said: 'Consumer confidence is returning but the economic climate is likely to influence how this is affected over the coming weeks. The impact of Tony Blair's speech on 28 September to encourage spending is not yet evident with the week commencing 1 October 3.5% down on the previous week.'
The FootFall Index measure pedestrian flows in over 50major retail destinations throughout the UK.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.