Boxing Day sales increase as football traffic increases.
By Oculus Network
Compared to last year, more people than ever went to the Boxing Day deals, although foot traffic is still far below pre-pandemic levels.
Covid, according to Springboard, was a “vital factor” in the recovery from 2021, when the Omicron variety was becoming more widespread and some limits were in place.
The business stated that pleasant weather in several places lured customers outside.
But because living expenses have increased. Figures are still significantly below 2019 and consumers are anticipated to spend less.
Compared to Boxing Day before Covid hit three years ago, attendance is down more than 30%.
Springboard said that the fact that Boxing Day fell on a Sunday last year, when many retailers chose to remain closed or had restricted operating hours, may have aided this year’s results.
Although the data was “encouraging” for retailers, Diane Wehrle, insights director at retail analyst Springboard, told the BBC that growing living costs are undoubtedly having an impact.
The decrease from Boxing Day 2019 is “clearly related to the cost of living crisis,” she continued.
Individuals may object to spending money on Boxing Day when they may not need to since they are coping with it, therefore many people may do so.
The 27th of December, Ms. Wehrle continued, may end up being more significant for retailers than the 26th.
While some establishments would not be open today, she noted that they will be when they reopened on the 27th, which is a significant market day that may be beginning to gain in significance.
Despite the rail strike on Monday, according to Springboard, foot traffic in central London—which has been the hardest hit of all locations as a result of transit disruption—showed the highest increase of any area in the UK.
Compared to December 26 of the previous year, it increased by more than 139%.
Separate study, though, indicates that consumers might be planning to spend less this year.
According to Barclaycard, the average consumer would spend £229 during the post-Christmas sales, which is £18 less than in 2017.
In a study of 2,000 prospective buyers, the credit card company Barclaycard discovered that 42% said that the rising cost of living will restrain spending in the post-Christmas sales, with many of those respondents claiming they would spend less than in previous years.
Inflation, commonly known as the rate at which prices grow, reached 10.7% in November, a higher level than in October but still the highest in 40 years.
According to Dr. Sarah Montano, a senior lecturer in marketing at the University of Birmingham and a retail specialist, many customers would have been buying before Christmas because of things like Black Friday bargains.
We anticipate that consumers will exercise some caution as we enter the new year since, of course, they still have to pay their heating costs, which will have an influence on their discretionary spending.
The amount spent in the post-Christmas sales this year has been affected by the rising cost of living and inflationary pressures, according to Harshna Cayley, head of online payments at Barclaycard Payments.
Despite this, retailers should rest easy knowing that consumers still intend to take advantage of the special offers and discounts available.
Boxing Day is still “one of the most important days of the year for us,” Tessuti general manager Mike Ranson told the BBC.
But he said that the shop had begun offering significant discounts on all of its products. “We are offering discounts on up to 50% of all brands, which means that 90% of the brands in the stores are included. This year, we have increased our sales significantly.”
Many people will have gotten cash or gift cards, especially teenagers and young adults, and they may want to use them during the Boxing Day discounts.
Rail companies have cautioned that service disruptions may last for most of the upcoming week. Workers at Network Rail who are RMT union members are on strike until 6 a.m. on December 27.
Due to railroad labour disputes, there may be more traffic on the roadways than usual when people leave for the sales.
Due to the rail strikes, football fans are also anticipated to have travelled by car on Monday.
15.2 million vehicles are expected to have been on the roads over the day, according to the AA.
A representative for the driving association claimed that delays began to worsen in the middle of the morning and that by lunchtime, “some substantial delays on the M25 and the M6” had developed.