Retail Sales Set To Slump By 23% On Christmas Eve As Rail Strikes Wreak Havoc

• Shoppers set to spend £1.13bn this Christmas Eve - the lowest of any day this week

• Sales set to fall by 23% compared to last Christmas Eve as National Rail strikes begin at 3pm

• Shoppers set to spend £0.84bn in-stores - 38% less than on Christmas Eve 2021

• Consumers to turn to online shopping, spending £0.29bn - 123% more than last Christmas Eve

UK retail sales are set to slump by 23% this Christmas Eve as train strikes force shoppers to rush home early for Christmas, according to a new report.

The VoucherCodes.co.uk Shopping for Christmas 2022 report predicts UK shoppers will spend £1.13bn this Christmas Eve, down from £1.5bn on Christmas Eve 2021, and the lowest spend of any day in the run-up to Christmas. The report credits this drop to planned train strikes from 3pm on Christmas Eve, meaning many consumers will have to cut their shopping short to make it home for Christmas. 

Christmas Eve retail sales: 2020 - 2021 actuals & 2022 forecasts

With just a day to go until the main event, bricks and mortar stores are set to feel the brunt of the strikes, as forecasts suggest they will fail to hit the billion-pound sales mark. The report predicts £0.84bn will be spent in stores over the course of the day, a 38% decline on last Christmas Eve 2021 (£1.36bn). 

In contrast, online retailers are set to see above-average takings this Christmas Eve, with consumers expected to spend £0.29bn online, despite purchases not arriving before the big day - a rise of 123% on last year’s sales (£0.13bn). 

All figures are in £bn. 

Maureen McDonagh, SVP International & Managing Director at VoucherCodes.co.uk, comments, “Amid the cost-of-living crisis, rail strikes have caused additional challenges for retailers in the lead-up to this Christmas, with many customers having fewer chances to visit the stores they’d like to.  

“With strikes planned for 3pm on Christmas Eve, we anticipate most shoppers to head out to stores early in order to make it home in plenty of time. For retailers looking to make the most of last-minute shopping opportunities, we recommend beginning running discounts and customer incentives as soon as the shop opens, and promoting them across marketing channels ahead of Christmas Eve to attract customers to store.”

Source : VoucherCodes.co.uk

Image : Dave Colman / shutterstock.com (2169482713)

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