Post-Holiday Retail Reflections: Insights from the UK and US

As we settle into the new year, it's a great time to review the key holiday shopping figures from the UK and US. Here are the latest numbers and insights shared by research companies. ??

UK Update: Holiday shopping momentum

• The post-Christmas period in the UK showed promising signs for retailers, with an increase in shoppers on Boxing Day (Dec 26, 2023). This was especially apparent in London, signaling a positive turn in retail activity.
• MRI Software reported a 4% rise in footfall across UK retail destinations on December 26.
• Central London experienced a significant 10.6% increase, possibly boosted by holiday tourists. ?????
• According to 萬事達卡 , which tracks both in-store and online purchases, there was a 2.6% rise in sales value year-on-year for the November 1 to December 24 period.
• Despite these positive signs, overall shopper numbers were still lower. They were 14.9% below the pre-pandemic figures from 2019. This suggests that inflation is still influencing consumer decisions.

US Overview: Holiday season's digital shift

• The US retail industry had a reason to celebrate this holiday season, with a report from 萬事達卡 SpendingPulse showing a 3.1% ?? in sales.
• This season, online shopping continued to grow, with 6.3% sales increase.
• Shoppers refreshed their ?? wardrobes, contributing to drive a 2.4% growth in the apparel category. ????
• Sales in the dining sector increased 7.8%, and grocery sales grew by 2.1%, as holiday gatherings brought people together.

So, what does all this mean for us?

The 2023 holiday season highlighted a cool shift towards online shopping.

• While the post-Christmas period in the UK saw a rise in physical footfall, digital space is expected to maintain its momentum.
• Online sales outpaced in-store sales in the US. This points to an ongoing shift in consumer behavior, as shoppers increasingly prefer digital convenience and promotions.

It seems investments in enhancing online shopping experiences have paid off for businesses.

The rise in digital engagement and sales tells us that efforts to improve e-commerce performance have met consumer expectations and driven growth.

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Until next time,

The Mindsite Team