💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UK Boxing Day online sales up 11.5 percent, footfall down 6 percent

Published 12/26/2016, 11:46 AM
Updated 12/26/2016, 11:50 AM
© Reuters. Shopper pass a sale sign during the Boxing Day sales at a Selfridges store in London, Britain

(Reuters) - The number of Britons who hit the shops on Boxing Day morning, a traditional shopping day, fell 6 percent versus the same period last year, while online transactions rose 11.5 percent year-on-year, retail data company Springboard said.

British retail sales grew at the fastest rate in more than a year in late November and early December, which may have taken some of the buzz out of the period around the Christmas holiday.

Boxing Day sales have traditionally been an indicator of the strength of the Christmas shopping period. But as online transactions grow in importance, discounting periods are being spread more evenly over the year and fewer people are visiting shops to make purchases.

In further evidence of changing shopping habits, Springboard said the number of people in shopping centers on Boxing Day morning fell 16.6 percent versus the same period last year.

Britain's The Telegraph newspaper said huge volumes of returns from Black Friday in November meant that many items would not make it back into shops in time for Boxing Day, hampering shops' sales further, citing data from Clear Returns which tracks online shopping returns.

A record 1 billion pounds worth of items are expected to be returned after this year's Black Friday as online customers adopted a "buy now and decide later" stance, The Telegraph said.

© Reuters. Shopper pass a sale sign during the Boxing Day sales at a Selfridges store in London, Britain

Clear Returns was not immediately available to comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.