Retailers pin hopes on Boxing Day bonanza

RETAILERS have their fingers crossed for a Boxing Day boost after a sluggish start to the Christmas season, as shoppers have delayed making purchases until later in the season than ever.

The rise of online shopping and the timing of Christmas have meant that shopper footfall is lower than in previous years as people have done the bulk of their present buying on the internet.

However, so-called “super Saturday” today is expected to be the busiest day of the year as panicked shoppers, who have left it too late to be confident in online deliveries, hit the town for last minute gifts. As a result, retail footfall today is expected to rise by 63pc compared to the average day, according to Shoppertrak. Around a third of shoppers plan to splash out on Boxing Day bargains, according to Barclaycard, but the majority, 57pc, will be spending money online.

Despite concerns that Black Friday promotions in November have dampened the impact of Boxing Day sales, more than half of shoppers, 51pc, plan to spend more on Boxing Day than they did last month.

Barclaycard estimated that UK shoppers spent around £2.5bn, or 8pc more, on Black Friday this year than in 2016.

However, the discount frenzy has shifted online, meaning that high street footfall actually declined during the period. Industry experts said that the lacklustre trading at shops was evidence of shoppers spending more online on electricals rather than touring fashion stores. “Last year, Black Friday overshadowed Boxing Day sales as many retailers struggled to maintain consumer interest in what has become a month-long discounting event,” said Paul Lockstone, managing director at Barclaycard. “This year, however, value-seeking consumers appear to be more eager to buy cut-price items across both sales periods as they try to combat rising prices.”

One in five bargain hunters is expected to stay up late on Christmas Eve to start surfing for online discounts, 13pc will start shopping during Christmas lunch and 15pc plan to shop online despite being in the company of friends and family, according to Barclaycard.

Meanwhile, Springboard is predicting a 1.3pc slip in footfall on Boxing Day, compared to 2016, in further evidence of the shift to online shopping.