"The drop in footfall figures during February underlines just how subdued the retail environment remains. During the month, retailers typically see a modest rebound after the January lull as half-term and Valentine's Day draw shoppers back into stores once the post-Christmas fatigue fades. But this year's exceptionally wet start – with a record-breaking 40 consecutive days of precipitation – dampened that effect for all shopping locations.
"At the same time, broader shifts in consumer behaviour are starting to emerge – with some food retailers already pointing to trends such as GLP-1 medications subtly changing purchasing patterns. In a market this competitive, leaders must be driving like-for-like growth. Identifying and exploiting even the smallest changes in consumer habits can have an outsized impact."