The Knockout that Wasn’t — Boxing Day
The discount sale juggernaut did not pack a punch for retailers this December.
As the sale season kicked off this year with some retailers announcing discounts as early as December 15, high streets in London did see an increase in footfall.
Most major retailers took advantage of the long Christmas weekend by starting sales early. The impact was immediately visible, with a large number of folks thronging to high streets over the Christmas weekend, combining festival shopping with their annual sale purchase, overshadowing the Boxing Day bonanza seen annually.
Overall Shopping Preferences at High Streets
- Similar to Black Friday in the US, Fashion Retail was the go-to category for shoppers followed by Sports Retail and Accessories.
- Oxford Street was the preferred shopping destination for each of these categories. For example, 41% of customers who shopped at sports retail outlets, preferred the ones at Oxford street.
Street-wise Preference for Brand Outlets
- When shopping for their favorite brands, people had specific street preferences as well. While 42% of shoppers going to M&S preferred to shop at the New Bond Street outlet, 42% of shoppers visiting Zara preferred the Zara at Oxford street.
- Customers of Zara and M&S also differed in the other shops they visited. While Zara’s customers were also seen shopping at Accessorize, The Kooples & Boots, M&S’s customers preferred to shop at Asics, Carphone warehouse & AllSaints.
In this period of slow to declining growth, profitability is the new metric businesses are after. Check out these 8 questions that can help Retailers drive profitability