Cold comfort for out-of-town retailers
Out of town shopping centres are suffering a greater decline in shopper numbers than high streets as the consumer slowdown takes effect.
Figures from research company Footfall show a 5.8 per cent drop in visitor numbers at out-of-town shopping malls in June, while shopper numbers in town centres fell by only 1.5 per cent.
"The reduction in visits to out-of-town centres is having a significant impact on retail sales because these visits have a much better conversion to sales ratio and generate much higher value purchases for retailers," says Experian director of retail consultancy Jonathan de Mello. "People generally drive to out-of-town destinations with a specific large purchase in mind and there is far less browsing than is the case in town centres."
The figures could imply the cost of travel keeping shoppers away. The largest drops in visitor numbers occurred in areas with the furthest distances to travel to major retail hubs.
Research director at Hitwise, Robin Goad, suggests that consumers are staying at home to shop online. Online retailer ASOS has seen revenue increase 90 per cent on last year to £81m.
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