High street names launch offers on websites early after shoppers were hampered in run-up to Christmas by weather
Almost 5 million people are expected to take a break from festivities today to go shopping online as a number of big retail names launch web sales after high street trading was hampered by severe weather conditions in the run-up to Christmas.
Data from the market research company Synovate released today showed that retail footfall across the UK was down 6.1% over the last three days before Christmas, compared to the same period last year. The previous week, the number of people shopping in stores other than food outlets was down by 8.8% compared to last year, with footfall last Saturday disrupted by snow, down almost a quarter on the same Saturday of 2009.
Dr Tim Denison, Synovate's director of retail intelligence said: "We thought it was going to be a slow-burn Christmastide, but it turned out to be a long freeze instead, with the weather playing havoc to shoppers' plans."
He said retailers "will be looking to claw back as much business as possible on the back of the snow-interrupted month and before the anticipated dampening of demand at the start of 2011".
VAT will increase from 17.5% to 20% on 4 January and many shoppers are expected to look for bargains ahead of the rise. While shop sales suffer, internet retailing continues to prosper.
Interactive Media Retail Group (IMRG) expects 4.8 million people to shop online today, spending �153m, compared to �131m on Christmas Day last year and �102m in 2008.
Internet sales sales are already up in the fourth quarter of 2010 so far, with an increase of 22.5% recorded for October and November, compared to the same period last year. IMRG'S predictions have been backed up by analysis from payments company Visa Europe, which is estimating that 960,000 transactions worth �36m will be made on Visa cards alone on Christmas Day. Visa transactions account for more than �1 in every �4 spent.
IMRG managing director David Smith said: "Christmas Day has become a busy online shopping day in recent years, as people with an eye for value look to take advantage of the 24/7 nature of online retail. With many people not being able to get out to the high street sales due to the wide-ranging impact of the snow, online could see a real boost over the next few weeks."
Many major retailers, including River Island, Gap, Argos, H&M and Debenhams started sales even before Christmas Day, either in-store or exclusively online, while a number of big names started their online sales today ahead of opening their doors to the public ? in most cases ? tomorrow. Among those that began web sales today are Selfridges, Argos, Debenhams, Marks & Spencer, House of Fraser, Currys and Comet.
With Boxing Day falling on a Sunday, high street stores looking to claw back sales lost as a result of the severe weather conditions face restricted trading conditions. All but the smallest retailers are limted to opening for a maximum of six hours, although the likes of Debenhams and Ikea and Brent Cross shopping centre in north London are opening early for customers to browse and pick up goods before the tills open.
The British Retail Consortium has warned that scheduled industrial action tomorrow by tube drivers could be "a major blow" for London's retailers.
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