Boxing Day Sales: Predicted Drop in Spending

Boxing Day sales are expected to decline with estimates pointing to a 2.9% decrease from last year, amounting to £3.7 billion spent.

While there's a minor increase in in-store shoppers, the significance of Boxing Day as a key sales event has diminished due to earlier discount events like Black Friday and the growth of online shopping. Major retailers like M&S, Next, and John Lewis are refraining from opening their doors until December 27.

Inflation and rising living costs are prompting consumers to be more frugal this holiday season. VoucherCodes, through GlobalData research, suggests the entire week's spending will drop by 3.8% to £13.5 billion.

Boxing Day footfall rose 1.4% from last year, but it's 30% less than in pre-pandemic times, indicating a consumer shift towards online shopping.

Despite a 2.6% increase in spending from November 1 to Christmas Eve this year, retailers have excess stock, which suggests potential for larger post-Christmas discounts.

Boxing Day's popularity continues to dwindle, with shoppers opting to distribute their spending across subsequent days. Diane Wehrle of Rendle Intelligence and Insights notes that the shift in consumer habits is set to continue, with more activity expected between December 27 and 29.

Online shopping has played a role in diminishing Boxing Day's traditional appeal, making it a more casual, leisurely outing for consumers who do choose to shop in-person.