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Following the Christmas festivities, Boxing Day in the UK witnessed a 4 per cent increase in footfall across retail destinations nationwide, with notable rises in high streets and central London. Data from MRI Software unveiled an 8.8 per cent surge in high street foot traffic compared to the previous Boxing Day, while central London experienced a 10.6 per cent increase compared to 2022 and a 1.6 per cent rise from pre-pandemic levels.
However, a week-to-week comparison revealed a 33 per cent decline in footfall across all destinations—high streets, retail parks, and shopping centers. When measured against 2019 levels, foot traffic remained 14.9 per cent lower, indicative of the enduring impact of online shopping trends, the close timing of Black Friday potentially deterring further spending, and the looming constraints of the cost-of-living crisis.
Jenni Matthews, MRI Software’s Marketing and Insights Director, expressed optimism at the 4 per cent year-on-year rise in Boxing Day footfall, predominantly propelled by high streets. However, the 33 per cent decline week-on-week aligned with expectations as consumers finalized their festive shopping, while the enduring 14.9 per cent decrease from 2019 highlighted the lasting influence of online shopping trends.
Despite the bustling Western holiday season, India faces challenges in textile exports due to disruptions in global supply chains, escalating raw material costs, and intensified competition from other manufacturing hubs. Although tier 1 cities in India saw minimal surges in apparel and fashion retail, all eyes are now on the upcoming New Year sales for potential recovery prospects.
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