Research: Dip in boxing day sales due to rising cost of living | Inflation in UK
The Boxing Day sale, a day that most of UK shoppers wait for. It is also a treat for the sellers as they witness a sharp splurge in businesses. But this year, Boxing Day sales are projected to see a marked dip. According to research data released by Barclay Card Payments, shoppers are expected to spend 4% less on Boxing Day and during the post Christmas sales this year. The dip in sales predictions is being attributed to the rising cost of living and inflationary pressures. Barclay Card Payments found that an average shopper is likely to spend around $243 in the post Christmas sales period, but the average figure is $19 lesser compared with 2021. Nevertheless, it still represents a busy end to 2022. Now the projections indicate that technology retailers are expected to particularly benefit from shoppers seeking a bargain. Personal technology items were the most sought after by those questioned about the post Christmas sales. Food and drink items are also expected to be popular.
The research results further state that a growing number of shoppers are expected to turn to reselling sites to buy items after Christmas. Almost 28% shoppers are planning to use multiple platforms to offload unwanted Christmas presents. UK is marred with two digit inflation numbers at present with soaring energy prices, the country's inflation rate has crossed 10% mark. The impact of rising cost of living can be seen on a daily basis now, with industry workers staging walkouts on a regular basis.
