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UK shoppers go online, skip the high street

Online sellers appear to be gaining in popularity. According to data from Springboard, the usual Boxing Day rush was a little quieter in 2014. Figures showed a significant drop in the number of shoppers visiting high street stores when compared to last year; UK retail footfall figures for the morning shopping period of Boxing Day were 10.5% lower across all retail formats than in 2013.
This decline was particularly pronounced in high street locations in the first shopping hour of the day, where marked footfall recorded a drop of 21.7%.
Retail data company Springboard expected a UK-wide decline but failed to forecast the scale of the drop - – which it said fell outside of the ongoing retail trend. While adverse weather may have had a slightly negative effect on the figures, Springboard suggests that early online discounts likely influenced shoppers to browse from the couch rather than hitting the streets.
It seems that shopping days such as Black Friday or Cyber Monday will become more prominent in years to come, which may overshadow more traditional discount fuelled spending sprees. It’s likely the Boxing Day sales will continue to suffer, as more consumers become aware of price cuts offered online.
Online retailers are more convenient and take the stress out of shopping, allowing consumers to have purchases delivered to their doors rather than facing the hustle and bustle of a busy mall, which means high street stores will face an uphill struggle to keep footfall at current levels.
Currencies Direct work with online retailers, selling worldwide on international marketplaces, and help them with international transfers. Our aim is to make it as easy as possible for you to manage your sales proceeds from multiple online marketplaces, so that you can grow faster & receive different currencies without being held back by unnecessary barriers.

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