According to MRI Software, high street footfall is down yet again which is another disaster for retailers this festive period.
The analysts OnLocation Footfall Index has revealed that Boxing Day footfall was down 9.4% across the UK which may be as a result of the cost-of-living crisis and the Chancellor’s Budget which has placed added economic pressures.
Barclays had forecast shoppers would on average spend around £236 each on buying discounted items this year.
MRI Software has revealed on Thursday that on UK high street footfall plummeted by 10.2%, 10.1% in shopping centres and 6.8% at retail parks by 12pm, compared with the previous year.
Jenni Matthews, marketing and insights director at MRI Software described the drop in footfall as a “major contrast.”
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She told the PA news agency, “This could be reflective of the shift in consumer behaviour influenced by the ongoing cost-of-living crisis.”
On Christmas Eve footfall was 18% higher across all areas in the UK compared to the same period in 2023.
Matthews said, “Could that be suggestive of shoppers front-loading their spending in a pre-Christmas rush?
“A lot of this could be that people have spent as much as they can spend this year, they spent it up (to) and on Christmas Eve.”
Most online sales started between 23 December and Christmas Day as shoppers took advantage of “bargains from the comfort of their own home.”
She added, “I feel like it’s becoming more and more common that people are grabbing the bargains pre-Christmas.”
Karen Johnson, head of retail at Barclays, said, “Despite the ongoing cost-of-living pressures, it is encouraging to hear that consumers will be actively participating in the post-Christmas sales.
“This year, we’re likely to see a shift towards practicality and sustainability, with more shoppers looking to bag bargains on kitchen appliances and second-hand goods.”
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