January sales losing appeal among UK shoppers

More than 90 percent of British shoppers have stated that they have “fallen out of love” with the January sales, according to a new study from MasterCard.

The reason shoppers no longer feel the post-Christmas clearance as a must-visit is because there are too many deals and promotional discounts throughout the year, and especially in the run-up to Christmas.

The report reveals that 48 percent of shoppers made cut-price purchases in the days immediately before Christmas, compared to 44 percent buying discounted items in the January sales.

UK shoppers are also demanding better deals than before, with two-thirds (65 percent) stating that an item has to be reduced by more than 30 percent to qualify as a bargain, while more than a quarter (26 percent) said they wouldn’t get their wallet out unless the price of an item was slashed by more than 50 percent. More than a third of shoppers (37 percent) admitted their expectation of price cuts is higher compared to last year.

MasterCard believes that the loss of appeal in the January sales is due to a combination of sales fatigue, and scepticism around pricing, as British shoppers become savvier about what they spend their money on.

More than half of people (58 percent) said they could not face the crowds, while over a third (37 percent) said they didn’t trust the accuracy of discounts advertised, and 31 percent of shoppers shunned the sales to avoid buying things they don’t need. In addition, 26 percent stated that the find the sales too stressful to bother with, while 24 percent said they can never find anything they really want.

"The January sales appear to have lost their lustre for many shoppers, as sales fatigue has set in." said MasterCard’s UK and Ireland president Mark Barnett. "This situation has been heightened by pre-Christmas price cuts, together with Black Friday and Cyber Monday. They are cannibalising the Boxing Day and January sales. By the time the New Year discounts hit the shelves, many consumers have already had their fill of bargains.”

Black Friday and Cyber Monday were found to be the biggest let down for consumers with 26 percent saying they were worse than last year, while 22 percent of shoppers thought the January sales were a flop compared to previous years.