Physical shops may be closed, but 52% of UK retailers are offering products specifically for Valentine’s Day. And 41% are expecting the event to give them a sales boost with average expectations of a 26% increase.
Consumer spending fell 2.3% year-on-year in December as areas moving into higher tiers, and reimposed lockdowns, dented the kind of activity usually seen in the festive season. But online was a bright spot.
Footfall to UK retail destinations was a big disappointment immediately after Christmas as Boxing Day (December 26), which used to be one of the biggest shopping days of the year, was hit by lockdowns.
Stores in England were ultra-busy on Wednesday as non-essential shops were allowed to reopen, retailers went the extra mile to make their locations appealing and consumers rushed to buy bargains or to do Xmas shopping.
Barclaycard has said that the volume of sales transactions up to 4pm was down 16.7% on Black Friday. The company’s figures are particularly useful because it actually almost £1 in every £3 spent in the UK.