{"id":17281,"date":"2023-12-27T11:14:05","date_gmt":"2023-12-27T05:44:05","guid":{"rendered":"https:\/\/farratanews.online\/shoppers-predicted-to-spend-4-6-billion-in-boxing-day-sales-according-to-experts-city-business-finance\/"},"modified":"2023-12-27T11:14:05","modified_gmt":"2023-12-27T05:44:05","slug":"shoppers-predicted-to-spend-4-6-billion-in-boxing-day-sales-according-to-experts-city-business-finance","status":"publish","type":"post","link":"https:\/\/farratanews.online\/shoppers-predicted-to-spend-4-6-billion-in-boxing-day-sales-according-to-experts-city-business-finance\/","title":{"rendered":"Shoppers predicted to spend \u00a34.6 billion in Boxing Day sales according to experts | City & Business | Finance"},"content":{"rendered":"
Barclays: 77% will do the majority of their festive sale shopping on the web (Image: Getty)<\/span><\/span><\/div>\n
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High streets across the country were much quieter than usual on Tuesday as many shoppers decided to do their Boxing Day bargain-hunting from home.<\/p>\n
Very few queues were seen on London\u2019s Oxford Street and at the Trafford Centre in Manchester. Meanwhile Leicester city centre and Nottingham were described as a \u201cghost town\u201d.<\/p>\n
This year, many retailers, including Marks & Spencer, John Lewis and Next, decided to keep their doors closed to give their staff an extra day off, which will have contributed to the low footfall.<\/p>\n
But a change in shopping habits during the cost-of-living crisis has meant that many now prefer to do their shopping online.<\/p>\n
According to Barclays bank, more than three quarters (77%) will do the majority of their festive sale shopping on the web.<\/p>\n<\/div>\n
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Don’t miss… <\/strong> Best Boxing Day deals: Big savings on iPhone, Samsung Galaxy, TVs and iPad <\/strong><\/p>\n<\/div>\n
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Yet, with official sales figures for Boxing Day set to be released soon, experts still predict it could be the biggest Boxing Day in five years.<\/p>\n
Analysts at Barclays Bank suggests that the average person will spend \u00a3253 in the sales, up from \u00a3229 last year and \u00a3162 in 2020.<\/p>\n
Overall, it is expected that people will spend \u00a34.6 billion on average in the post-Christmas shopping period, which will be the highest amount in five years.<\/p>\n
In some parts of the country, footfall picked up as the day went on, with snaking queues seen in Newcastle as shoppers muscled their way in to stores to get their hands on a bargain.<\/p>\n
But on Europe\u2019s busiest shopping street \u2013 Oxford Street \u2013 shoppers said it still felt quieter than on previous Boxing Days.<\/p>\n<\/div>\n
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Sharon Chen, 60, said she thought Oxford Street was \u201cless busy\u201d than it has been in previous years, adding that she was browsing the shops for children\u2019s toys.<\/p>\n
Ms Chen, who had travelled from Enfield into central London on Tuesday morning, said she thought people were less likely to spend money in the Boxing Day sales due to the cost-of-living crisis.<\/p>\n
Tufael Ahmed, 47, who was on London\u2019s Oxford Street, said: \u201cWe were here last year, and the queues were much longer – there\u2019s a marked difference.\u201d<\/p>\n
Mr Ahmed, who works as a finance controller, said he thought the cost-of-living crisis had \u201cdefinitely\u201d affected what people were willing to spend.<\/p>\n
He added: \u201cI just don\u2019t think people have money and you get the impression that the retailers have already discounted things before and now they\u2019re taking it for granted.<\/p>\n<\/div>\n
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