'Extra' Bank Holiday And December Discounting Dropped Boxing Day Shopping Volume
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Footfall on Boxing Day declined 14% year-on-year, according to retail insight provider ShopperTrak, as consumers made the most of the extra bank holiday and held off heading into stores until 27 December. ShopperTrak suggests it is due to Christmas falling on a Sunday, creating an extra bank holiday, as well as record levels of pre-Christmas discounting by retailers.
ShopperTrak UK director Steve Richardson noted that whilst Boxing Day traditionally kicks off the January sales in earnest, the deep discounting this year reduced impetus on customers to take to the High Street on Boxing Day itself to bag a bargain.
Revo CEO Edward Cooke said the trend was in line with predictions; the overall numbers for the festive period suggest most shoppers want to make purchases in person, enjoy the additional activities taking place in towns and cities, and visit stores to pick up items they’ve ordered online.
“Consumer spending remains resilient post-Brexit and 90% of sales continue to involve a physical shop in some way – with retailers and investors boosting the shopping and leisure experience to attract consumers,” Cooke said.