UK markets close in 3 hours 47 minutes
  • FTSE 100

    6,695.86
    +57.01 (+0.86%)
     
  • FTSE 250

    20,527.91
    +177.50 (+0.87%)
     
  • AIM

    1,197.08
    -1.48 (-0.12%)
     
  • GBP/EUR

    1.1275
    +0.0016 (+0.15%)
     
  • GBP/USD

    1.3696
    +0.0021 (+0.15%)
     
  • BTC-GBP

    23,130.61
    -536.27 (-2.27%)
     
  • CMC Crypto 200

    639.26
    -8.07 (-1.25%)
     
  • S&P 500

    3,855.36
    +13.89 (+0.36%)
     
  • DOW

    30,960.00
    -36.98 (-0.12%)
     
  • CRUDE OIL

    53.05
    +0.28 (+0.53%)
     
  • GOLD FUTURES

    1,853.60
    -1.60 (-0.09%)
     
  • NIKKEI 225

    28,546.18
    -276.11 (-0.96%)
     
  • HANG SENG

    29,391.26
    -767.75 (-2.55%)
     
  • DAX

    13,913.26
    +269.31 (+1.97%)
     
  • CAC 40

    5,550.81
    +78.45 (+1.43%)
     

Boxing Day sales expected to fall by more than a quarter

Simon Neville, PA City Editor
·2-min read

Around 8.2 million shoppers are expected to hit the high street on Boxing Day, despite extensive new Covid-19 restrictions forcing non-essential retailers to close.

However, total Boxing Day spending is expected to fall by more than a quarter compared with a year ago, according to research by the Centre for Retail Research for VoucherCodes.co.uk.

Boxing Day sales are expected to be £3.2 billion – down 27% compared with last year – researchers said.

Sales in physical stores are expected to reach £1.4 billion, research found, down 56% on the same day last year.

Coronavirus – Tue Dec 22, 2020
Boxing Day sales are set to be hit hard by new restrictions (Andrew Milligan/PA)

Online sales will jump around 56% to £1.8 billion as shoppers stay home, the report added.

Before the Government announcement on Wednesday, experts had predicted sales through the week of December 26 and 31 would be £12.7 billion.

But with several parts of England plunged into Tier 4, which bans non-essential retailers from opening, just £10.1 billion will be spent during the post-Christmas week, the report said.

London and the South East spending will be most sharply affected by the new restrictions, due to being in Tier 4 and having such a high concentration of shopping centres and department stores.

Bricks and mortar retailers will be the worst hit, having been expected to make £779 million on Boxing Day in these areas before entering Tier 4.

This is now forecast to drop 76% to just £187 million, the report added.

Anita Naik, lifestyle editor at VoucherCodes.co.uk, said: “The post-Christmas sales are always one of the busiest times for retailers, and while this is still the case, it’s not surprising to see a decline in sales for the third year in a row, especially due to the new restrictions in place for most of the country.

“In Tiers 1, 2 and 3, retailers can continue to trade so the picture is mixed. However, the impact on spending in Scotland and Wales – which are both bringing in new lockdown measures from Boxing Day – as well as Tier 4 areas in England is severe.”