The full day footfall data from the Coronation of His Majesty King Charles III on May 6 shows a mixed picture for UK retailers. Overall, retail destinations across the UK experienced a 20.6% drop in shoppers compared to the previous Saturday (April 29). This dip was even more pronounced between 10 am and 3 pm during the ceremony and parade, with footfall plunging by 24.6%.
However, it wasn’t all gloomy news for retailers. Despite the overall downturn, some key shopping hotspots witnessed a surge in footfall, according to data from MRI Springboard. London’s Knightsbridge, for instance, bucked the trend with a hefty 57.7% increase in footfall between 10 am and 3 pm compared to the previous week.
This unexpected spike in certain locations is largely credited to public screens set up in towns and cities, allowing people to watch the Coronation. Notably, King Edward Street in Hull experienced a 3.9% rise in footfall, while New George Street in Plymouth saw a 7.8% uptick compared to the previous week. Sunderland’s Market Square, however, experienced a 20.5% dip in footfall during the event itself (from 10 am to 3 pm), but a noteworthy 11.9% rise over the 24-hour period.
The day after the Coronation, May 7, saw footfall data up to 12 pm suggesting a 6.4% decrease in footfall across all UK retail destinations compared to the Early May Bank Holiday weekend.
In conclusion, the Coronation of King Charles III brought about mixed outcomes for UK retailers, with the overall impact seemingly dependent on the local arrangements for public viewings of the historic event.