
Virgin Media O2 Business today published its second full-year Movers Index, revealing a 7-per cent fall in weekend high street and shopping centre visits last year. However, Brits are on a mission to save local shops in 2025, as 65 per cent have ambitions to support their local high street.
Despite a strong start to 2024, with 65 per cent of Brits saying supporting their local high street was important to them, the year painted a tougher picture for many retailers.
With nearly half of retailers worried about rising costs going into 2025, technology will play a vital role in attracting budget-conscious shoppers to stores.
Store closures surged by 28 per cent, with 63 per cent expressing worries about further closures. Compounding this, 53 per cent of retailers reported a noticeable decline in shoppers spending time in-store, with reduced spending noted by 40 per cent.
Despite shoppers claiming to be willing to pay an extra 23 per cent more to support local businesses, 23 per cent admited to shopping less frequently on their local high street last year. This is reflected in the numbers of weekend trips to high street and shopping centre areas, which fell by 5 per cent and 9 per cent respectively from 2023 to 2024.
From April to December, trips were lower in 2024 than in 2023, with the largest falls in the summer months and a 4-per cent fall in December, a release from the company said.
However, January and March exhibited footfall growth, meaning retailers could look hopefully towards March 2025 for a similar rebound.
The Movers Index reveals technology has become indispensable for budget-conscious shoppers, with 77 per cent of Brits using it to enhance their in-person shopping experience, like checking online prices and finding deals; 11 per cent do so every time they shop.
Shoppers emphasise the importance of being able to compare prices online (42 per cent) and name good WiFi (22 per cent) and strong mobile connectivity (21 per cent) as two of the top three features attracting them to shop in-store .
With 34 per cent of Brits aiming to cut down overspending on non-essential items and 33 per cent reducing impulse buying, every penny counts for retailers. Technology-related frustrations, like self-checkout glitches, have consequences for retailers, with 38 per cent of shoppers leaving or avoiding returning to stores due to complicated or frustrating tech in 2024. This rises to over half for Gen Z.
Fibre2Fashion News Desk (DS)