Wednesday, December 25, 2024

Last-minute Christmas shoppers provide boost for UK retailers

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Retailers received a boost from a last-minute spree by shoppers on Christmas Eve, with an increase in footfall after a lacklustre festive season.

Footfall was up by 31.1% across all UK retail destinations up until noon on Tuesday compared with Christmas Eve last year, although the date fell on a Sunday in 2023 and so suffered from shorter shopping hours.

Shopping centres were particularly busy, with visitor levels up 42.2% to noon compared with last 24 December, while high streets saw a 29.1% increase and visits to retail parks were up 23.7%, the data from MRI Software showed.

Consumers appeared to be making the most of festive events and attractions, with market towns recording a 50% rise compared with Christmas Eve last year. Jenni Matthews, marketing and insights director at MRI Software, said: “While many have taken to the shops this morning, this may well be the last splurge before a big spending freeze sets in in the new year for consumers, meaning that retailers should be taking heed of these trends to plan accordingly for a challenging start to 2025.”

MRI had earlier reported that high street footfall was 5.3% lower on 23 December than on the same day last year. Retailers had hoped for a long-awaited increase in trade on Monday – expected to be the peak Christmas shopping day – and footfall increased by 28.5% across all UK retail destinations compared with the week before.

Visits to shopping centres were up 45.5% on last week and retail parks saw a 31.1% increase. High streets also saw an 1.8% week-on-week increase in visitors. However, MRI said the year-on-year 5.3% drop in footfall on the high street suggested the cost of living crisis was still affecting many people.

This was also reflected in “modest” year-on-year rises in shopping centres and retail parks of 1.4% and 4.9% respectively.

A separate analysis for the Guardian has found the average Briton’s consumption on Christmas Day causes 23 times more greenhouse gas emissions than a regular day.

Emissions generated by each adult by all the travel, gifts, energy, decorations, food, drink and waste associated with the climax of the annual carnival of consumerism amount to 513kg of CO2 equivalent (CO2e), the analysis found. The average daily emissions of a UK adult are about 22kg CO2e.

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Gifts were the biggest contributor to the total, accounting for more than 93% of emissions, according to ClimatePartner, which carried out the analysis on behalf of the Guardian.

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