In a retail twist, Boxing Day has emerged as the premier shopping day of the year, outpacing Black Friday in 2022, according to insights from the Price Index tool by PriceSpy. This marks a significant departure from the historical dominance of Black Friday and calls attention to evolving consumer trends.
Despite Black Friday’s continued prominence, its impact has diminished with extended discount periods throughout November. Reports suggest some retailers strategically manipulate markdowns. Boxing Day, renowned for post-Christmas discounts, is making a robust comeback.
PriceSpy anticipates a pronounced drop in prices this week, culminating in a shopping frenzy known as ‘Frantic Friday.’ Falling on December 22, the final payday before Christmas for many, this aligns with the initiation of price reductions leading up to Boxing Day. Analyzing 3.8 million offers, the index indicates that last year, the average price on Black Friday decreased by 1.72% compared to November 1, while Boxing Day saw a slightly higher decrease of 1.74%.
Liisa Matinvesi-Bassett, UK Country Manager at PriceSpy, notes a shift in the retail landscape. Black Friday no longer holds the title for the cheapest shopping day, thanks to retailers launching sales in early November. This has paved the way for Boxing Day’s resurgence.
Looking ahead, Matinvesi-Bassett suggests that given the challenges faced in this critical quarter, Boxing Day discounts may be even more generous this year. Patient shoppers waiting until ‘Frantic Friday’ and Boxing Day could be in for exceptional deals.
However, PriceSpy cautions consumers about potential ‘pricewashing’ around Frantic Friday and Boxing Day. Similar to concerns during Black Friday, retailers might advertise deals larger than reality. Prices fluctuate throughout the year, and shoppers are advised to approach promotional marketing with a discerning eye, considering discounts may be calculated against arbitrary dates, potentially offering less substantial savings than implied.
