UK retail footfall throughout February showed “resilience amid seasonal and economic pressures” as retailers look [nervously?] ahead to the Spring Budget.

That’s MRI Software’s take on retail visits across the 2 February-1 March trading period as footfall fell by 0.3% compared to last year in all UK retail destinations. The decline was driven by a 1.5% dip in high street activity.

“This aligns with trends typically witnessed in February and may be reflective of adverse weather conditions and transport disruptions impacting footfall”, the report noted.

But on a month-on-month basis, footfall numbers were more upbeat, rising 7.3% in all UK retail destinations “which aligns with historical trends observed each February as activity levels normalise following the post-Christmas slump”.

Weekday year-on-year footfall last month rose marginally (+0.1% year on year) whereas weekend footfall declined 3.8%, which “may well reflect shoppers urging caution in light of price increases”, MRI said.

Footfall trends over a 24/7 period also highlighted a core area of growth, with the early evening period (5pm–8pm) growing by 0.9% annually during February, “continuing the positive trend in the evening economy as consumers combine leisure, dining and retail experiences”.

However, that weekend footfall drop suggests “that shoppers may still be managing discretionary spending carefully in light of ongoing cost pressures”.

And MRI’s ‘Central London Back to Office’ benchmark also highlighted a 3.5% drop in footfall during February compared to last year, the first annual drop experienced in 11 months, it noted.

But it highlighted that the flu season, which has been especially disruptive in recent months, “is likely to have impacted people’s willingness and ability to visit busy retail destinations and offices”.

The report also said that “retailers remain optimistic” as 55% of those surveyed in its weekly ‘Insights from the Inside’ poll revealed sales during the February half-term holiday were higher this time compared to last year. It provided a boost for physical retail destinations, particularly shopping centres and high streets where footfall jumped 9% and 11.6%, respectively,

However, 58% of retailers contacted also expect March sales to be lower compared to last year as the Easter holiday shifts into mid-April.

“As the sector prepares for the upcoming Spring Budget, attention is turning to how financial policies may further influence consumer confidence and retail spending. Potential changes in tax, public spending, and household support will be closely monitored for its impact on disposable income and retail demand in the months ahead”, MRI concluded.