Today's Retail Sales Expected To Be Down By 7.4%

• Retail sales forecast to reach £1.26bn today (20th Dec) - down 7.4% YoY (£1.36bn)

• 16.7m people to shop, with 11.4m shopping in bricks-and-mortar stores

• Online spend expected to rise 32.4% YoY from £0.34bn to £0.45bn

Today (20th December) consumers are forecast to spend £1.26bn with just five days left until Christmas, according to new research.

VoucherCodes’ Shopping for Christmas: The build up to Christmas report reveals that 16.7 million people are expected to spend today in preparation for Christmas, however retail sales are set to be down 7.4% from 2021 (£1.36bn). 

Most shoppers will be heading to the high street today in search of a last-minute Christmas deal, as 11.4 million people are set to spend £0.81 million in stores. Whilst this figure is higher than offline spend, it unfortunately marks a 20.6% decline on the previous year (£1.02bn). This decline is a result of the cost-of-living crisis but also due to Christmas falling on a Sunday, meaning spending will be spread over more days than last year when Christmas was on a Saturday. 

In more positive news, 5.3 million people will shop online spending an estimated £0.45m million today alone, a rise of 32.4% YoY (£0.34) due to shoppers having an extra day to squeeze in online orders before Christmas day. 

Maureen McDonagh, SVP International and Managing Director at VoucherCodes.co.uk, comments: “It’s disappointing that retail sales are down this year especially as the last few years have also been particularly tough for retailers.  

“However, there are ways retailers can make the most of the customers who are willing to part with their cash. Consumers are looking for ways to make their money go further so retailers should show they offer value by ensuring all customers are educated about any loyalty programmes, and that deals and discounts are front-of-focus.”

Source : VoucherCodes.co.uk

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