Shoppers are expected to indulge significantly this Boxing Day, with predictions pointing to average expenditures of £236 per person, amounting to £4.6 billion total retail sales, according to Barclays Consumer Spend researchers. Despite concerns over the cost-of-living crisis, this forecast is £50 more per person than pre-pandemic spending levels, driven partly by inflation.
Online sales are anticipated to dominate, with 65% of shoppers choosing to spend their sales budgets online, which indicates continuity from last year when 63.9% of Boxing Day purchases were made digitally. Interestingly, there's been a noticeable rise—an 11% increase—in customers intending to shop at physical stores, spurred by major retailers like Next, Marks & Spencer, and John Lewis opting not to open their doors on Boxing Day.
Karen Johnson, head of retail at Barclays, expressed optimism about the consumers' participation amid fiscal pressures, highlighting how shoppers are gravitating toward purchases of practical and functional items. Categories likely to see heightened interest include kitchen appliances and second-hand goods, reflecting changing consumer behavior as more people look for bargains on essentials.
A recent survey revealed 35% of respondents plan to shop for items to replace those they have run out of, and 31% for goods they have lost or broken. The trend of buying second-hand items seems set to rise, with 48% of people hoping to find bargains on unwanted Christmas gifts through reseller platforms.
Meanwhile, on the 20th anniversary of the Boxing Day tsunami, memorials and tributes are being held for the victims of the disaster, which tragically took more than 230,000 lives across several countries after a 9.1 magnitude earthquake struck beneath the Indian Ocean. The Prime Minister and opposition leader Sir Keir Starmer expressed their condolences publicly, emphasizing the impact of the disaster on millions.
On this somber anniversary, gatherings took place, particularly in Ache province, Indonesia, where many unknown victims are buried. Daniel Poole, who survived the tsunami during a surfing trip in Sri Lanka, shared his harrowing experience of escaping the escaping waves. His story emphasizes the personal impact of the tragedy, leading him to dedicate his life to humanitarian efforts.
Rachel Harvey, who was working as a foreign correspondent at the time, recounted the devastating scenes and the destruction she witnessed. She described apocalyptic conditions, likening the scene to being "around the main city – or what was left of it – of Banda Aceh, and ... completely destroyed, piles of rubble, boats ... dead bodies everywhere … things your brain is almost refusing to process.”
To add more flavor to this year's Boxing Day festivities, the Rugby League World Cup 2024 semi-finals added excitement, with prominent teams showcasing their skills, drawing large audiences and heightened enthusiasm for the sport.
The day continues to be one marked by both reflection on past tragedies and optimism for retail growth. Consumers are clearly ready to embrace the bargains available, even as they keep the memories of the past alive.
