London suffers worst drop in High Street shoppers in UK

LONDON’S retailers were hit with the biggest drop in footfall in the country in May, as hybrid working patterns and rising inflation keep customers away from the shops.

According to data analysis from consultancy firm RSM, it was down 68% in the month from pre-Covid-19 levels, as commuters continued to head into the office less often. There was also a lack of international and business travellers, with both categories failing to return to full capacity, particularly from China, where lockdowns remain.

While the slow return to the office is an established trend, there are signs it is combining with the cost of living crisis to create a doubleedged problem for the capital’s shopping hubs.

“May was the first month that consumers really felt the magnitude of various price increases, such as energy and fuel. Consumer confidence also reached an all-time low,” said Jacqui Baker at RSM. “As a result, consumers are having to tighten their purse strings which we’re witnessing on High Streets.”

Oxford Street’s footfall in May 2022 dropped to 761,889 from 2.4 million in the same month in 2019, before Covid. It was 1.1 million in April 2022.