London sees an 11% drop in Boxing Day footfall as shoppers turn to online sales amid economic pressures
London: Boxing Day shopping took a hit this year, with foot traffic down by over 10%. It seems folks are steering clear of the high streets and opting for online deals instead.
Across the UK, footfall dropped by about 9.4% compared to last year, especially in high streets, retail parks, and shopping centers. It’s a big change from last year when more people were out and about.
Analysts are saying this drop is a stark contrast to the previous year’s increase. Many shoppers are still feeling the pinch from the cost-of-living crisis, which is likely pushing them to shop online more.
People are expected to spend around £236 each on average during the Boxing Day sales, but most of that will be online. It’s just easier to snag a deal from home, right?
Jenni Matthews from MRI Software pointed out that last year, footfall was nearly 3% higher on Boxing Day. She thinks many shoppers might have done their spending before Christmas, which is why we’re seeing fewer people out now.
With many retailers like Next and Marks & Spencer closing their physical stores on Boxing Day, it’s no surprise that footfall is down. Plus, the ongoing financial pressures are making people more cautious about their spending.
Interestingly, the South West of England saw the biggest drop in footfall, with 26.7% fewer shoppers compared to last year. Greater London wasn’t far behind with an 11.1% decline.
Overall, it looks like the trend of online shopping is here to stay, especially as people prioritize practical purchases during these tough times.