Tue, 8th Jan 2019
British shoppers are expected to spend £13 billion in the last few days of 2018, spending close to £9 million per minute during Boxing Day, although overall footfall has fallen.
Shoppers spent £8.8 billion per minute on Boxing Day, although the number of shoppers heading to the high street this year was lower; marking the third year in a row that high street Boxing Day footfall has declined.
Clothing, footwear, cosmetics and homeware appear to be on most wish lists, and while Boxing Day proved to be popular, it wasn’t enough to help shops recover from what has been a challenging year. There is the expectation that a further £4.2 billion will be spent online this year, which will bring the average spend per person up to £452 over the five days following Christmas Day.
Analysts believe that online shopping and the growth in the popularity of Black Friday and other pre-Christmas sales is to blame for the lack of interest in this ‘Twixmas’ period. Consumers are overwhelmed with a constant flow of discounts and offers so the impact of the post-Christmas discounts is not what it used to be.
Shopping centres have felt the worst of the impact, with town centres and high streets faring better, although footfall is down by 3.1 percent this year overall. London was one area that successfully bucked the trend, with foreign tourists taking advantage of a weak pound to pick up some bargains. Online retailers have also enjoyed some good performances.