Last-minute Christmas shopping takes a dive as buyers feel the squeeze
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Shoppers have held back from shopping as household finances remain low. Last-minute Christmas shopping saw a downturn this year as high street activity on 23 December dropped from the same day in 2023, new figures show. Retailers hopes for a spending frenzy were dampened as footfall on UK high streets was 5.3 per cent lower on than the same time last year. The Monday was expected to be 2024’s peak Christmas shopping day, but the drop is a bad indicator for the industry of consumer confidence.
![[Shoppers in Eldon Square shopping centre in Newcastle (Owen Humphreys/PA)]](https://static.independent.co.uk/2024/12/24/12/460aaacb5bc7b34e6a4c747540de8c8fY29udGVudHNlYXJjaGFwaSwxNzM1MTI3NTI3-2.78540521.jpg)
The figures from MRI Software show that footfall did jump by 28.5 per cent across all retail destinations compared to the week before. Visits to shopping centres were up 45.5 per cent, while retail parks saw a 31.1 per cent increase. For high streets, the boost was 1.8 per cent.
![[London’s Oxford Street on Christmas Eve]](https://static.independent.co.uk/2024/12/24/13/8f1b95c1-ab56-4633-a101-8cb63a83238d.jpg)
However, MRI said the year-on-year drop in footfall on the high street suggested the cost of living is still affecting many families. MRI Software’s recent Consumer Pulse report found 51 per cent of consumers were concerned about the rising cost of living over the next six months, driven by higher energy and housing costs during the winter.
Jenni Matthews, marketing and insights director at MRI Software, said: “While many are taking to the shops ahead of Christmas Day, this may well be the last splurge before a big spending freeze sets in in the new year for consumers, meaning that retailers should be taking heed of these trends to plan accordingly for a challenging start to 2025.”.
