news release
Experian retail insight: February 2010
• UK National Experian FootFall Index for February shows month-on-month increase of 9.5%
• UK Index reveals year-on-year increase of 2.1%
• Number of non-food retail failures falls by 34% in January 2010 compared to January 2009
London, 3 March 2010 — The Experian FootFall UK National Index for February 2010 shows an encouraging boost with increased shopper visits to retail and shopping centres generating a 2.1 per cent uplift compared with February 2009. Compared to January 2010, shopper numbers increased by 9.5 per cent in February.
Regionally, the strong performers were the South West and Wales with footfall increasing by 9.8 per cent and the Eastern region (up 9.2%). Other regions showing a positive performance were the West Midlands up (2.2%), London (up 1.7%) and the South East (up 1.9%). However, those areas affected by the snow this month, such as Scotland and the North East showed declines of 2.9 per cent and 4.3 per cent respectively.
FootFall- regional breakdown
|
Regional Index Eastern |
9.2% |
|
Regional Index East Midlands |
1.0% |
|
Regional Index London |
1.7% |
|
Regional Index North East |
-4.3% |
|
Regional Index North West |
-0.8% |
|
Regional Index Scotland |
-2.9% |
|
Regional Index South East |
1.9% |
|
Regional Index South West and Wales |
9.8% |
|
Regional Index West Midlands |
2.2% |
|
|
Retail insolvency trends in 2010
The latest retail insolvency data from Experian reveals there were 92 non-food insolvencies in January 2010, a figure that is down on the same month last year during which there were 139 insolvencies. In the food retailing sector there were 16 insolvencies in January 2010 compared to 15 in January 2009.
Anita Manan, senior analyst, Experian FootFall comments:
“After a long period of declining footfall, February's figures will come as welcome news to retailers after the January sales were jeopardised by this year’s cold weather.
“Another positive indicator for UK retail is our insolvency index, which shows that non- food retail insolvencies versus this time last year fell by 34 per cent, a significant decrease which compares favourably with pre-recession insolvency rates. Clearly the great Christmas most retailers witnessed, coupled with various cost saving measures initiated during 2009 has led to an increased resilience in the sector, which has manifested itself in a lower insolvency rate."
ENDS
Contact:
Stephanie Dobson
Experian Public Relations
0115 99 22515~
stephanie.dobson@uk.experian.com
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