Shops expect a £3.6bn boost on Boxing Day as 13million people are expected to take to the streets

Shops are hoping for a Boxing Day rebound today as 13 million shoppers take to the streets in the annual bargain hunt.

Retailers are desperate to move mountains of stock that haven’t sold in the run-up to Christmas, resulting in price reductions of up to 70 percent.

Total spending across brick-and-mortar stores and online is expected to reach £3.6bn.

The biggest cuts are expected in clothing, furniture and appliances as retailers seek to tempt shoppers amid a cost of living crisis.

Retailers are desperate to move mountains of stock that haven't sold in the run-up to Christmas, resulting in price reductions of up to 70 percent

Retailers are desperate to move mountains of stock that haven't sold in the run-up to Christmas, resulting in price reductions of up to 70 percent

Retailers are desperate to move mountains of stock that haven’t sold in the run-up to Christmas, resulting in price reductions of up to 70 percent

Total spending across brick-and-mortar stores and online is expected to reach £3.6bn

Total spending across brick-and-mortar stores and online is expected to reach £3.6bn

Total spending across brick-and-mortar stores and online is expected to reach £3.6bn

Retail experts say the nature of Boxing Day is changing as the public socialize, eat and relax instead of just queuing for bargains.

Malls like Bluewater, the Trafford Center and Westfield will welcome people from around 7am but several retailers including Marks & Spencer, John Lewis and Next will close until tomorrow to give their staff a decent break. Retail analyst Springboard is forecasting a 15 per cent increase in shopper numbers compared to 2021, when Covid was still throwing a cloud over the high street.

Spokesperson Diane Wehrle said: “Over the past decade, in all but two years – 2013 and 2015 – footfall to UK retail destinations on Boxing Day has been lower than the previous year.

“A key factor in this is the steady shift of spending to the internet, which means shoppers can participate in Boxing Day sales without having to go to the stores.

“Thus, travel to Boxing Day destinations will no longer be purely for shopping but will become more leisure-oriented, with consumers using the day as an opportunity to dine out and socialize.”

She added: “Today is the first year in the last three years that normal shopping activities have resumed. This factor, combined with the fact that many retail and hospitality trips ahead of Christmas have been canceled due to the rail strikes, will encourage consumers to venture out.’

Around one in four people will shop today, according to a YouGov survey for PriceRunner UK. The price comparison service warned shoppers about fake discounts, in which prices were boosted for a short period of time to make the discounts appear bigger.

https://www.soundhealthandlastingwealth.com/uncategorized/shops-eye-3-6bn-boxing-day-bounce-as-13m-people-predicted-to-hit-streets/ Shops expect a £3.6bn boost on Boxing Day as 13million people are expected to take to the streets

Brian Ashcraft

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