90% of retailers reported a drop in foot traffic in the last 5 years
This week LoopMe launched our Retail Foot Traffic Research. We were looking to see the impact of declining foot traffic to stores, using a working hypothesis developed from insights from the British Retail Council who found that there was a 1% drop in foot traffic registered across the UK.
Almost 90% of the 250 retail decision makers in UK reported a drop in foot traffic over the last 5 years and 93% reported a loss in store revenue. Meanwhile, a record £133bn was spent online in 2016, a growth of 16% in one year. Continue reading