Retail activity has fallen in the second week after the holiday season. According to research group Footfall, UK’s High Streets sales levels for the week ending January 15th fell by 10.9% compared to the previous week, and 5.2% compared to the same period in 2005.
While sales figures were mixed—with some performing well, and some in a slump—the research firm identifies the general slack in consumer spending as a post-holiday slowdown, with people paying off debt incurred in last December’s shopping rush, as well as settling household expenses as 2006’s first bills arrive.
This is traditionally the case after Christmas, as the holiday shopping spree ends, and businesses return to normal activity. The high rate of decline in sales is not what was expected, however. Still, it may be too early to consider this as a slowdown in business, especially since Footfall likewise cites a higher rate of shopper populations in the period compared to last year.