As a result of the rising cost of living, it is anticipated that consumers would spend less during Boxing Day deals.
Barclaycard, a credit card company, forecasts that the average consumer would spend £229 in post-Christmas sales, £18 less than the previous year.
Additional train strikes are anticipated to produce a buildup of traffic around shopping malls, posing a potential complication for bargain seekers.
The AA predicts that there will be 15,2 million vehicles on the roads during the day.
The driving organization stated, “Traffic is likely to increase in the vicinity of shopping centers as a result of the holiday sales. In the meanwhile, football enthusiasts will travel to see their respective teams.”
“Traffic should be distributed throughout the day as people take their leisure after Christmas Day,” the report continued.
Members of the RMT union who work for Network Rail are on strike until 06:00 GMT on December 27. Rail companies warn that service disruptions are possible for most of the upcoming week.
Barclaycard conducted a study of 2,000 would-be shoppers and found that 42% of respondents indicated the increasing cost of living will limit their spending in post-Christmas sales, with the majority of respondents stating they would spend less than in previous years.
In November, the rate of price increases, often known as inflation, reached 10.7%, which was lower than in October but still the highest level in forty years.
Harsha Cayley, head of online payments at Barclaycard Payments, stated, “The growing cost of living and inflationary pressures have had a natural impact on the amount spent in this year’s post-Christmas sales.
Despite this, retailers can rest assured that consumers will still take advantage of the offers and discounts on offer.
Mike Ranson, the general manager of Tessuti, a clothes store in Liverpool, told that Boxing Day remained “one of the most significant days of the year for us” and that he was optimistic about business in the coming hours.
He stated that the store has implemented substantial discounts on all merchandise. “We’re offering reductions of up to 50 percent on all brands, so we’re offering discounts on roughly 90 percent of the brands in our stores. We have had a tremendous year for sales this year.”
This year, several of the biggest names on the High Street, including Next, John Lewis, and M&S, will be closed on Boxing Day. However, online shopping is still available.
Barclaycard also discovered that individuals plan to utilize reselling platforms, such as eBay, to dispose of unwanted Christmas gifts and hunt for deals.
It was found that 28% of those polled anticipate selling gifts, with luxury food and drink and personal technology items most likely to be sold initially.
