According to retail expert MRI Springboard, the coronation weekend is set to boost footfall by 4% compared with 2022 across all UK retail destinations. Annual footfall is predicted to climb by 5% on UK high streets, compared with 4% at retail parks and 3% at shopping centres.
Diane Wehrle, insights director at MRI Springboard, said: “The coronation weekend will be a once-in-a-lifetime event for UK consumers, offering a spectacle never seen before by most of the population. It’s taking place the week following the early May bank holiday, when MRI Springboard expects footfall to rise by around 12% as consumers enjoy the warmer weather and the longer day light hours.
“Therefore, on Saturday May 6, the day of the actual coronation service, MRI Springboard forecasts footfall in high streets will be -7% lower than on the previous Saturday but -10% lower in shopping centres. The stronger result in high streets than in shopping centres is likely to be a result of some town and city centres holding events to celebrate the coronation, and installing screens so that consumers can watch the coronation service from the town centre. We forecast that footfall in retail parks will be -5% lower than the week before, following a rise in footfall to retail parks over the late May bank holiday, driven by purchases of home and garden products as consumers make the most of two bank holiday weekends.
“On Sunday May 7, footfall across all UK retail destinations is forecast to be marginally lower than on the previous Sunday (-2%), but again a rise in footfall in high streets is forecast as screens in town centres will be showing the coronation concert, making them attractive destinations for friends and families to gather for meals and drinks. In shopping centres, footfall is forecast to be -8% lower than on the previous Sunday as high streets represent a greater lure with their strong representation of bars and restaurants from where customers can enjoy the coronation concert. Footfall in retail parks on Sunday is forecast to be -2% lower than on the previous Sunday.
“On Monday May 8, footfall is forecast to be marginally lower than on the early May Bank Holiday Monday (-0.5%), with drops of -8% in retail parks and -1% in shopping centres, but with a forecast rise of 6% in high streets as shoppers enjoy the last day off before returning to work and school on the following day.”
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