KO for Boxing Day sales with unprecedented 54% drop expected during pandemic

The high street will take an unprecedented battering on Boxing Day as sales are set to plummet by 54 per cent, a report reveals today.

With tough new tier restrictions putting a swathe of the South East under lockdown, only 8.6 million across Britain will be trawling aisles for bargains.

And with major chains such as Marks & Spencer and John Lewis choosing to give workers a day off on December 26, shoppers face shuttered stores even in areas where non-essential shops can still open.

But it will be a Merry Click-mas as online spending is predicted to rocket by 56 per cent compared with last year to almost £2 billion as Brits stay safe from crowds and trawl the internet for best deals.

It is thought Boxing Day sales will as a consequence plunge by 54 per cent (Getty)

Figures from the Centre for Retail Research (CRR) and VoucherCodes reveal the total spend from December 26-31 was expected to hit £12.7 billion but has been revised to £10.6 billion after London and most of the South East was placed in Tier 4.

The capital is expected to take the biggest financial hit as tills that jingled to the tune of £779 million on Boxing Day last year fall relatively silent.

Takings are set to plunge by 76 per cent to just £187 million for stores that are allowed to open in Tier 4, the Shopping for Christmas 2020 report reveals.

But it will be a Merry Click-mas as online spending is predicted to rocket by 56 per cent (Getty)

The overall amount of high street and online sales will dive by 26 per cent (Getty)

Heartbreaking analysis shows the total amount for both high street and online sales across the UK on Boxing Day will dive dramatically by 26 per cent and experts say it will be even worse on Sunday, December 27 when sales are predicted to plunge by 31 per cent.

Anita Naik, lifestyle editor at VoucherCodes.co.uk, said: “The post-Christmas sales are always one of the busiest times for retailers, and while this is still the case, it’s not surprising to see a decline in sales, especially due to the new restrictions in place for most of the country.

“In tiers 1, 2 and 3, retailers can continue to trade so the picture is mixed. However, the impact on spending in Scotland and Wales - which are both bringing in new lockdown measures from Boxing Day - as well as areas in England that are already in tier 4, is severe.”