BY every measure 2019 was the worst year on record for UK retail - and early signs point to little improvement.
Footfall across the north’s key retail destinations declined by another 3.8 per cent last month, according to the latest Springboard monitor.
But its latest monthly report has perhaps offered up some crumbs of comfort for a sector decimated by a perfect storm of higher rates, online shopping and plunging consumer confidence.
The January decline in shopper numbers came against an exceptionally strong comparable for the same month last year, when footfall in the north rose by 3.9 per cent on the 2018 equivalent.
And while the drop in Northern Ireland’s shopping centres was 1.8 per cent, it was actually the most modest decline since in six months (down 0.2 per cent in June) and lower than the average of 4.5 per cent over the intervening six months, which brings a glimmer of solace for this destination type that has consistently lost shoppers for over two years.
Springboard says this might be an early sign that the regeneration schemes long planned by owners to broaden the offer of malls to incorporate a greater experiential element, particularly in the larger malls, are working, and they now better reflect consumers demands.
And it is likely that this is part of the reason why footfall on the north’s high streets declined by 4.4 per cent in January, as consumers were attracted back into shopping centres.
"The gestation period for shopping centre investment can be a long one, but once the chess pieces are finally in place a single owner is often more readily able to deliver meaningful change than a high street, which can be weighed down by a multiplicity of owners," Springboard said.
Another slight positive was that while shop vacancies in Northern Ireland remain the highest of any area in the UK at 14.3 per cent, the rate stayed on par with the previous quarter.
Commenting on the general retail woes of the last 12 months, NI Retail Consortium director Aodhán Connolly said: “ It's no surprise that 2019 was a tough year for retail across the UK with the political uncertainty, Brexit deadlines and money having to be spent on preparing for the possible changes in how the UK trades with the EU.
“With more changes guaranteed by the end of 2020, we need the government to explain how they will protect business and consumers here from the complexity and cost rises that will come under the current deal.
“It is important to break the narrative that Northern Ireland is OK under this deal. Northern Ireland is not OK. That's why we need to minimise any delays, red tape and costs created by an Irish Seas border so that we can continue to provide our households with the choice and affordability they have now."
