Up, up and an array of good news: Bristol City Centre sees strong quarterly growth

The results are in – and Bristol City Centre spend and footfall are both on the up. Visitors to our vibrant retail and leisure high street, Park Street, were up by almost 40% in April – June in comparison to Q1, and spending in our first-class hospitality venues increased by 14% on January – March figures.

We’ve worked with data insights experts, Movement Strategies, to look at footfall, visitor demographics and quarterly spend for BS1, BS2 and BS8. Read on to see more of the growth Bristol has seen between April – June, in comparison to the first three difficult trading months of this year…

Set to a backdrop of a UK economy that saw real gross domestic product (GDP) increase by 0.2% in Q2 2023, spend in Bristol City Centre businesses stood at £131 million – a 19% increase on Q1 and a hugely significant uplift given the context of the national growth average.

We know that Bristol loves to eat and drink – and Q2 spend at city centre restaurants, bars and nightclubs reinforced this, with investment of £35.7 million – a 14% increase on January – March.

At a time where the UK is seeing hospitality businesses sadly closing doors, this level of spend is promising in our city’s night time economy businesses (those that operate between 6pm and 6am).

Bristol also likes to look good – and spend on clothing stood at £19.4 million within Bristol City Centre postcodes between April and June – a significant increase on the first three months of the year, where spend in the sector was £13.5 million.

The South West pound is strong within our businesses too. More than 60% of the spend in Bristol City Centre in the second quarter of the year came from those of us that live in Bristol and South Gloucestershire – and in June specifically – this stood at a staggering 77%. This significant local investment within our regional economy is brilliant to see.

FOOTFALL ON OUR HIGH STREETS IS ALSO ON THE UP

Victoria Street welcomed 201,000 visitors in Q2, which is both a 0.5% increase on the first three months of the year but also a 25% increase on the same period in 2022. The gateway to the city’s commercial district, this indicates that more workers are returning to the office following the pandemic – and spending at local retail, entertainment and food spots for lunch and after-work get-togethers.

Park Street remains a vibrant and important shopping and leisure district in our City Centre – seeing 687,000 visitors explore its diverse array of shops and restaurants between April and June, a huge increase of 38.1% on the footfall we saw in Q1.

On both of these key Bristol high streets, the predominant visitor is the 18-34 year old demographic, inferring that at a time when the time economy is in full force, younger audiences are making the time to both visit and invest in bricks and mortar stores. This should give confidence to both existing businesses as well as those that are about to open their doors for the first time.

For more information or if you would like to receive our monthly insights report, get in touch with the team. You can also take a look at our latest footfall tracker, which is updated on a weekly basis for the most up to date information.

BID Updates

FOOTFALL ON OUR HIGH STREETS IS ALSO ON THE UP

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