1 billion pound online spend predicted for Boxing Day

Online retail spend on Boxing Day is expected to exceed more than 1 billion pounds for the first time, according to new research from IMRG.

The industry association for online retail is predicting that online spend will be up 7.9 percent to 1.03 billion pounds on Boxing Day, up from 954 million pounds in 2016.

In addition, IMRG is also forecasting that online shopping on Christmas Day is set to reach 844 million pounds, up 6.3 percent on the same day in 2016, when spending hit 794 million pounds.

If this forecast is correct regarding spending over Christmas Day and Boxing Day, it would still mean that Black Friday spending will still be the biggest sales day of the year, as it was recorded that 1.39 billion pounds was spent online on Black Friday, a 11.7 percent increase on the previous year.

Justin Opie, managing director of IMRG, said: “Boxing day sales remain a fixture of retail and an important day in the calendar, but Black Friday has altered sales patterns over the full peak period and is now the primary discounting event of the season. And perhaps, as with Black Friday, we’re seeing Boxing Day spend become more online-focused.

“Although going out to the shops on that day has long been a British tradition, footfall was reportedly down 7.3 percent on Boxing Day last year.”

Opie added: “It’s likely that spend on Christmas Day is pulling some of that order volume forward as well, as shoppers have the ability to browse and buy from the sofa on mobile devices during quiet moments at home and visiting family, redeeming the huge numbers of gift cards and coupons that they receive in place of presents each year.”