Boxing Day sales figures soar
Boxing Day sales figures soar
Tuesday 29th December 2009
The number of shoppers at the Boxing Day sales this year was up by almost a fifth, according to figures released yesterday.The UK national preliminary figures for retail sector activity, published by credit website Experian, show footfall on high streets across the country was 18.5 per cent higher on December 26th this year than in 2008.
According to experts, the boost is due in part to Boxing Day falling on a Saturday this year as well as the impending rise in VAT on January 1st 2010 when the tax rate returns to 17.5 per cent after 12 months at the lower rate of 15 per cent.
Experian senior quantitative analyst Anita Sharma said: "Retailers are recognising the importance of Boxing Day shopping, as there were more shopping centres open compared to previous years.
"Centres or retailers that didn't open this Boxing Day may be feeling that they have lost out on their share of the consumers' wallet."
Sales figures have also been bolstered by increased price cuts, with some retailers publicising hefty discounts.
And Ms Sharma warned the decreased profit margins could still bite during the January sales period and the traditionally slow springtime.
"Retailers will have been elated at this year's performance, however it remains to be seen if the takings will be enough this year to see them through this difficult period to the next quarter," she added.
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