Boxing Day “challenging trading” for retailers

UK shoppers stayed away from bricks-and-mortar stores on Boxing Day, according to new figures from Springboard, with footfall falling 4.5 percent year-on-year.

While luxury department stores including Selfridges and Harrods experienced record numbers of shoppers for their Boxing Day sales, many other retailers experienced one of the most “challenging boxing days that bricks and mortar stores have seen” since Springboard first published Boxing Day activity in 2012 the company stated.

According to the retail intelligence company, Boxing Day footfall was down 5.9 percent on the high street, while shopping centres were down 3.5 percent and out of town location footfall fell by 2.1 percent.

Diane Wehrle, insights director, Springboard said: “This undoubtedly reflects the extent of discounting that has already occurred – particularly over Black Friday – and also the growth in online trade this year. In addition to this, Black Friday now rivals Boxing Day in terms of the volume of footfall generated and so its influence as a key trading day in the retail calendar has been diluted.

“The extent of discounting together with the fact that that stores still account for around 80 percent of total spend, and that activity in bricks and mortar stores declined, suggests that sales will be lower this year on what was traditionally the key shopping day of the year.”

Jace Tyrrell, chief executive officer of the New West End Company, which represents retailers around Bond Street, Oxford Street and Regent Street, stated that Chinese shoppers had helped to boost takings across London’s main shopping streets to 20 million pounds by midday on Boxing Day, with luxury purchases such as handbags and winter fashion in “high demand”.

Tyrell added: “Although footfall was down in single digits on last year we are still expecting solid sales with average spend increasing and over 50 million pounds to go through West End tills by the close of Boxing Day, driven by discounts of up to 70 percent.”