Shoppers visiting the West End today will spend £50 million at the Boxing Day sales.
To encourage shoppers to continue spending before the critical year end and Q1 costs come through, major retailers will be pulling out all stops, including discounting products by as much as 70% off and offering one of a kind experiences in store.
Jace Tyrrell, Chief Executive, New West End Company, said: “In London’s West End we have seen a Boxing Day bounce, with footfall up 15% this morning. International tourists are out in force driven by the weaker pound, as well as domestic shoppers who are looking for day out after family celebrations yesterday.
“We’re on track for £50m spend today, which will rise to a total figure of £2.5bn for the critical Christmas trading period. It has been a competitive and challenging year for UK retail with rising costs and squeezed profit margins. As the largest private sector employer in the country, we need the Government to get beyond Brexit and support Britain’s retail sector in 2019.”