UK Post-Christmas Shopping Brings Some Cheer for Retailers

Retail traffic in the UK saw a 4% increase on Boxing Day, providing a boost for merchants as shoppers flocked to stores, particularly in London, for post-Christmas deals. London's central stores experienced a notable 10.6% surge in visitors, likely driven by holiday tourism.

Despite this uptick, overall shopper turnout remained 14.9% below 2019's pre-pandemic levels, reflecting inflation's impact and a preference for online purchases.

Jenni Matthews from MRI Software noted that the cost-of-living crisis might lead people to shop later in the week, as some continued to spend time with family on Boxing Day.

Total retail sales for Boxing Day dipped by 2.9% to £3.68 billion, with predictions indicating a 3.8% decrease for the final week of December. However, sales in the lead-up to Christmas improved, with a 2.6% increase from the previous year, according to Mastercard, which highlighted peak spending around Black Friday as customers sought bargains amidst rising prices.