4th Jan 2022 13:51
(Alliance News) - Although the UK retail sector continues to feel the damage of Covid-19, figures on Tuesday offered promising signs, as shoppers largely decided against avoiding bricks and mortar venues despite the spread of the Omicron variant.
According to retail insights firm Springboard, footfall increased 78% annually in the final week of the year.
Though down 25% from pre-pandemic times, and 15% lower than the week before, which included the run-up to Christmas, the latest figure made for decent reading for bricks and mortar retailers.
Springboard analyst Diane Wehrle commented: "Despite the well documented cautiousness of shoppers in the run-up to and over Christmas this year, it appears that on New Year's Eve there was a shift in behaviour with footfall in high streets increasing from the week before (Christmas Eve). Not only was this the only day last week when high street footfall was higher than the week before, but it was also in sharp contrast with New Year's Eve 2019 when high street footfall was lower than on Christmas Eve."
"Inevitably footfall last week, which began on Boxing Day and ended on New Year's Day, was lower than in the preceding week which was the run up to Christmas and which ended on Christmas Day."
The comparison to pre-virus times was still "unfavourable", though Wehrle noted that the equivalent week in 2019 began on December 29, missing the days immediately following Christmas when footfall is typically low.
Wehrle added: "The winners on New Year's Eve were Central London and historic town centres, where footfall rose significantly from the week before, whilst declining in smaller local high streets."
Following the emergence of the Omicron variant, the UK government implemented Plan B measures to combat the spread of the virus. This included a return to work-from-home guidance and mandatory Covid passports for large venues.
Findings have since suggested that Omicron may be milder than preceding Covid-19 variants.
Analysts at investment bank JPMorgan said: "While the situation in the UK has clearly got worse over Christmas, the lack of a significant increase in severely ill patients, highlighted by the limited increase in ventilator occupancy for Covid-19 and lower rates of hospital occupancy seems to suggest that the UK could still avoid a major lockdown.
"Importantly, it is clear from the data that Omicron is milder and that boosters work against it, which is encouraging for the future. For the UK, it seems to be this high rate of boosting, that is tipping the balance and allowing the government to manage the situation with only Plan B measures."
Meanwhile, a key UK vaccine scientist, and one of the brains behind the AstraZeneca PLC jab, said the worst of the pandemic in the UK has passed.
"The worst is absolutely behind us. We just need to get through the winter," Andrew Pollard, chief investigator of the Oxford Covid-19 vaccine trials, told the Telegraph newspaper.
By Eric Cunha; [email protected]
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