UK Christmas retail spending mixed
Despite evidence of a drop in consumer spending power, the post-Christmas shopping spree made a strong start, according to research group MRI Software.
Overall shopper numbers weaker compared to pre-pandemic
It showed that footfall rose 4% across all UK retail destinations on Boxing Day, compared to last year. Stores in central London saw the biggest rise, up 10.6% partly explained by an inflow of tourists for the holidays. This being said, the overall shopper numbers were still weaker compared to pre-pandemic figures, with footfall 14.9% lower than 2019 levels.
Mastercard retail sales data analysis
As for retail sales over Christmas, Mastercard data, which measures both in-store and online retail sales, showed a 2.6% rise in sales value between 1st Nov and 24th Dec period compared to last year. Another survey by GlobalData estimates a 2.9% decline on Boxing day, and anticipates a 3.8% decline during the week following Christmas. But it is the individual retail reports that will be of most interest. Next publishes its Q4 trading statement on January 4, the following week there are trading statements from the likes of Sainsbury's, Tesco, JD Sports Fashion, and ASOS, to name just a few.
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