Posted 12/26/2023, 8:00:00 AM
Boxing Day Sales Dampened by Cost of Living Crisis and Shift to Online Shopping
- Shoppers expected to spend £3.7bn on Boxing Day sales, a 3% drop from last year due to economic cautions and competition from Black Friday deals
- Just 14.3% of consumers plan to shop the Boxing Day or post-Christmas sales this year
- High inflation, cost of living crisis, and desire to reduce spending limiting enthusiasm for Boxing Day shopping
- More retailers closing on Boxing Day itself, shifting demand to Dec 27-29 instead
- Online retail sales struggling as well, with clothing, gifts, alcohol down vs last year; secondhand sites gaining appeal