UK retailers are expected to see sales reach £3.68 billion this Boxing Day, a new report has revealed.
The Shopping for Christmas: The build up to Christmas and Boxing Day sales report by VoucherCodes.co.uk predicts a busy Boxing Day for retailers despite many consumers avoiding the sales due to the ongoing cost-of-living crisis.
Retailers can expect to see 22.5 million consumers make a purchase on Boxing Day, up 3.2 per cent YoY and expect to welcome 15.3 million consumers through their doors, spending £2.3bn as they brave the cold to head to their local high street.
Total UK Boxing Day sales, 2020-2022 actuals, 2023 forecast:
| 2020 | 2021 | 2022 | 2023 | 2023 growth (%) | |||||||||||
| High street spend (bn) | Online spend (bn) | Total spend (bn) | High street spend (bn) | Online spend (bn) | Total spend (bn) | High street spend (bn) | Online spend (bn) | Total spend (bn) | High street spend (bn) | Online spend (bn) | Total spend (bn) | High street spend | Online spend | Total spend | |
| Boxing Day (26th) | £2.26 | £1.71 | £3.97 | £2.51 | £1.43 | £3.94 | £2.54 | £1.25 | £3.79 | £2.31 | £1.37 | £3.68 | -6.8% | 4.4% | -2.9% |
Despite large numbers of consumers planning to make purchases on the 26th, the report predicts total retail sales are expected to drop for a fifth year running because of the ongoing cost-of-living crisis. Retail sales on Boxing Day itself are set to fall 2.9 per cent from £3.79bn in 2022.
This trend is set to continue throughout the post-Christmas sales week (25th-31st December), with YoY sales dropping 3.8 per cent from £14.06bn in 2022 to £13.53 in 2023.
Post-Christmas consumer numbers also tell a similar story, with numbers set to fall compared to 2022, with 102.4 million shoppers planning to make the most of the sales across the post-Christmas week, down 1.9 per cent YoY (104.4 million).
“The Boxing Day sales provide consumers with a last-chance opportunity to splurge on themselves for the year, but after a tough year of economic uncertainty, this is now a luxury that many are refraining from. Therefore, it’s no surprise that retail sales are expected to drop for a fifth year running,” Michael Brandy, senior commercial director at VoucherCodes.co.uk, commented.
“However, many consumers are still planning to shop the sales but will be doing so more cautiously than ever before. Retailers should aim to provide genuine value to consumers this year through additional perks such as offering free shipping or free click and collect to help attract loyal customers.”
