The UK’s high streets are experiencing a significant Christmas spending surge today.
- £1.13bn is expected to be spent in physical stores as last-minute shoppers rush for gifts.
- Retail sales are anticipated to reach £1.46bn, marking a 6.6% rise compared to last year.
- Approximately 16 million consumers are expected, with 12.6 million visiting physical stores.
- VoucherCodes highlights the importance of convenience and value in attracting shoppers.
The UK high streets are witnessing a notable surge in consumer activity, with spending expected to reach £1.13 billion today. This rush is driven by last-minute shoppers seeking Christmas gifts and essentials. The broader retail sector, inclusive of online and offline sales, is anticipated to see sales hit £1.46 billion, representing a 6.6% increase from the same day last year. This trend underscores the continuing importance of traditional brick-and-mortar stores, especially during peak shopping seasons.
Approximately 16 million shoppers are set to engage in retail therapy today, with an estimated 12.6 million choosing to visit physical stores and shopping centres. This preference for in-person shopping suggests that many consumers value the immediacy and tangible experience of shopping in a physical setting over online alternatives, which may be constrained by delivery cut-offs at this time of year.
Senior Commercial Director of VoucherCodes, Michael Brandy, highlights the consumer trend of shopping at the last minute: “With just hours to go until the big day, consumers are short on time and money, so offering convenience and genuine value will be the key to securing those final festive sales.” His insights point towards the critical role retailers play in capturing this late surge by strategically offering convenience and value-driven offers.
As Christmas Eve approaches, another notable shopping day is expected with projected sales of £1.31 billion, a 17% rise from the previous year. The high street is expected to see 11.6 million shoppers making last-minute purchases, contributing £1.08 billion to the total sales, while online shopping is estimated at £220 million. This pattern indicates a strong consumer tendency to opt for face-to-face shopping experiences during pressure periods.
Looking forward to Boxing Day sales, retailers are projected to see £3.73 billion in spending—marking the first increase in post-Christmas sales in three years. The anticipation of cost-conscious shoppers seeking bargains suggests a promising outlook for retailers in both physical footfalls and online traffic, highlighting the dynamic shifts in consumer behaviour during this festive season.
Retailers must strategically address consumer demands for convenience and value to optimise sales during this festive period.
