An evening surge in shoppers drove a decade-high increase in footfall for Boxing Day sales across the UK. Data from MRI Software indicated a 4.4% increase in footfall across all UK retail destinations, including high streets and shopping centers, compared to the same day the previous year.
Footfall remained strong on Saturday, leading MRI to anticipate continued strong post-Christmas shopping momentum into the new year. MRI counts footfall in more than 660 retail locations across the UK.
Despite the increased foot traffic, Barclays has forecast a £1 billion decrease in consumer spending on Boxing Day deals this year. Early MRI data had initially suggested a muted reaction to the sales, with high street visits down 1.5% and shopping center visits down 0.6% by 3 p.m. on December 26.
According to retail analyst Jenni Matthews at MRI Software, the later surge in activity indicated a shift in shopper behavior. "The boost in activity was driven by a peak in visits across all UK retail destinations," Matthews stated, suggesting shoppers opted for later visits.
The increase in footfall provides insight into consumer behavior and its impact on the retail industry. While increased footfall is generally seen as a positive indicator, the forecast decrease in spending suggests that consumers may be more cautious with their purchases, potentially impacting retailers' overall revenue. The coming weeks will reveal whether the post-Christmas shopping momentum translates into increased sales figures.
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