Published Date:
30 January 2009
By PETER RANSCOMBE
BUSINESS REPORTER
DRAMATIC evidence of the damaging effect the recession is having on upmarket shopping districts has emerged from the streets of the Scottish capital.
Figures published today show that the number of people visiting some of Edinburgh's most prestigious streets dropped by more than a third over the festive period, year-on-year.
Worst hit was Edinburgh's affluent George Street, on which footfall – measured by recording people passing an electronic counter outside the Rohan store – dropped by 39 per cent over the latest Christmas and Hogmanay period. The Edinburgh Council figures show that total footfall in December and the first three weeks of January on the New Town street – which is home to a range of boutiques and bars – fell from 495,668 in 2007-8 to just 300,675 in 2008-9.
St Andrew Square reported a 32 per cent drop in footfall, although the council said numbers could have been affected by the remodelling of the square, which allowed pedestrians to cross through its centre without passing over the electronic counter outside Harvey Nichols.
Princes Street – on which the counter was outside Marks & Spencer – reported a 7 per cent decline in footfall, while Shandwick Place posted a 4 per cent drop.
Of the five areas surveyed by the council, only Edinburgh's High Street recorded a rise in footfall, with the counter outside the Radisson hotel reporting a 4 per cent increase over the seven-week period.
A spokesman for Edinburgh Chamber of Commerce told The Scotsman that there was not a direct relationship between footfall and sales but the figures were a "useful indicator". He said many of the chamber's larger member firms had performed well over Christmas but some of the smaller businesses had "found it more difficult".
According to the council transactions at parking ticket machines in the city centre also fell sharply, down 26.3 per cent on the year-earlier period.
While competitor cities across the UK reported general declines in footfall over Christmas, Edinburgh was more adversely affected than average, the city council said. It added that the city centre was its "top priority" and highlighted the need for further investment.
Tom Buchanan, the council's economic development convener, said: "These figures are disappointing but perhaps not unexpected. Given the global economic downturn and with concerns over job security and rising household costs, many families will have cut spending over Christmas."
He added that development projects in the city centre were "now more vital than ever" to "breathe fresh life into the city centre, attracting new visitors, shoppers and residents alike".
Ron Hewitt, chief executive of Edinburgh Chamber of Commerce, said current improvement work was "itself clearly challenging for visitors and residents alike, which is having an influence on footfall".
The full article contains 463 words and appears in The Scotsman newspaper.
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Last Updated:
29 January 2009 8:27 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Consumer spending
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Recession