Fragile sentiment
Market researcher Synovate has published its Retail Traffic Index for May and it shows a reversal of the increases in UK retail footfall recorded in March and April.
May 2009 suffered a 5.1 percent drop in footfall compared to May 2008 and a 3.1 percent drop on April 2009.
"The first quarter was understandably subdued, but expectedly so. April, however, was better than any of us could have wished for; it was certainly far busier than we had forecast," said Synovate retail psychologist Dr Tim Denison.
"Optimists might have seen the start of quarter two as the beginning of 'the turn'. Unfortunately, our latest data would suggest that any such call is premature. The volatility in our footfall figures and retail sales figures reflects the fragility of people's 'feel good' mood swings and their preparedness to go out and spend on the high street."
Denison went on to say that UK retailers can expect some uplift from the increase in people chosing to take their holidays in the UK this year, although this will primarily benefit traditional tourist resorts and the kind of products people are likely to buy on holiday.
