On Christmas Eve, shoppers flocked to high streets and retail parks across the UK for last-minute gift purchases, providing a much-needed boost to retailers facing a challenging economic landscape. Early data indicates that foot traffic increased significantly compared to previous years. According to figures from retail technology specialists MRI Software, footfall was up by 2.4% compared to the same day in the prior year and marked a substantial 20.5% increase from the previous week.
This surge in shopper activity was particularly evident in retail parks, which experienced a 6.6% rise in footfall year-on-year and a remarkable 36.3% jump week-on-week. The trend suggests that many consumers opted to leave their shopping until the last moment. High streets also saw a modest improvement, with foot traffic increasing by 1.1% compared to last year, while shopping centres recorded a 1% increase.
Regional Insights and Retail Challenges
Jenni Matthews, a retail analyst at MRI Software, emphasized the ongoing challenges retailers face, particularly after the impact of last year’s autumn budget, which led to increased labour costs. Many retailers are bracing for further financial strain with anticipated hikes in business rates next year. Despite these obstacles, Matthews noted that the uptick in footfall indicates that consumers remain willing to shop in their local towns and cities.
Data revealed notable regional variations, with Wales reporting a significant increase in last-minute shopping, as shopper traffic rose by 7.9% year-on-year. London, a major shopping hub, also experienced heightened activity, with a 2.6% increase in footfall, as many shoppers ventured into the city to purchase gifts.
The increased shopper turnout on Christmas Eve highlights a resilience among consumers, despite ongoing economic pressures. Retailers will be closely monitoring these trends as they navigate the post-holiday landscape and prepare for the new year ahead. As the festive season wraps up, the focus will shift to how these purchasing patterns might influence retail strategies moving forward.
