A record five million people, or one in 12 of the population, went shopping on Boxing Day – an increase of 12.5 per cent on last year. However, retailers fear that after a few days of frenzied activity at the sales, shoppers will rein in their spending to pay off credit card bills.
Anita Sharmamanan, a retail analyst at Experian, said: "The Boxing Day figures are quite extraordinary really. My prediction is that this week is going to be up 15 to 17 per cent year-on-year, depending on [Sunday's sales results].
"But we have had a very poor performance over the whole of December so far. I guess this was the last-minute surge that was bound to happen."
She added: "A lot of customers are making purchases for next year. That is going to bring forward sales that would have been made in 2009."
The childrenswear chain Adams is the latest high street name to apply to go into administration, following the collapse of Woolworths, Zavvi, Whittard of Chelsea and The Officers Club.Reuse content