Boxing Day sales experienced a muted start this year as shoppers continued to favor online shopping over traditional brick-and-mortar stores. Data from MRI Software indicated that by 3 p.m., visits to UK high streets were down 1.5% compared to 2024, while shopping centers saw a 0.6% decrease.
Retail parks experienced a 6.7% increase in visitors compared to the previous year, according to MRI's footfall data. However, this rise was not substantial enough to create an overall significant increase in visitor numbers. Barclays anticipates shoppers will spend £3.6 billion in the sales, a decrease from the £4.6 billion forecast for the 2024 sales, with fewer individuals planning to participate in bargain hunting this year. The amount spent online is also predicted to decline.
Although in-person shopping continues, the figures suggest that Boxing Day sales are losing their significance as a major retail event. The Barclays consumer spend report indicates that shoppers who plan to shop have increased their budgets by 17% compared to last year. However, overall spending on Boxing Day sales is forecast to be lower this year than last year.
Karen Johnson, head of retail at Barclays, noted that shoppers have been cost-conscious throughout the year, and this behavior is likely to continue. The shift away from traditional Boxing Day sales reflects broader trends in consumer behavior, including the increasing convenience and accessibility of online shopping, as well as concerns about personal finances.
Discussion
Join the conversation
Be the first to comment