£1bn online frenzy

Web splurge forces stores to fight back with panic sales

PANIC sales have been launched by stores in a bid to lure back shoppers who ditched the high street to hunt for deals online.

An estimated 11 million people – one in four adults – browsed for bargains in between opening presents and tucking into turkey on Christmas Day.

Spending is expected to have hit a record £1.19billion – up 20 per cent on last year, according to a Centre for Retail Research (CRR) study for VoucherCodes.

But while this is good news for web retailers, it will turn the screw on high street stores. Spending at high streets, retail parks and malls is set to fall by around £460million today, to £3.25billion.

Around 2.1million Scots shoppers are expected to spend £373million today – after splashing out £116million yesterday – with queues likely to begin at 3am.

But spending will be down £31million on Boxing Day last year, although the amount spent today will be more than double the

‘A bustling and exciting atmopshere is expected’

£144million of the ‘panic’ Saturday before Christmas Day.

A CRR spokesman said: ‘For the past two years, there have been some signs of promotional fatigue among consumers. By Boxing Day people will have experienced many discount events, such as Black Friday, and we expect the numbers attending the sales to reduce.

‘However, it is anticipated that average spending per household in the sales will still be around £459.’

The British Retail Consortium said: ‘What we saw last year was that lots of shoppers opted to stay online rather than go into the shops on Boxing Day, so we wouldn’t be surprised if that trend continues.

‘Boxing Day tends to be a busy time for specific non-food products like furniture.’

Yesterday, big-name stores slashed prices in a bid to win over shoppers, with Debenhams offering savings of up to 75 per cent.

Marks & Spencer and House of Fraser also started Boxing Day sales early.

Trevor Pereira, commercial director for intu shopping centres – which includes Braehead, Renfrewshire – said: ‘The sales will kick off with a bang, with staff at work since the early hours. A bustling and exciting atmosphere is expected, and more than a million shoppers at our centres.’