Entering 2024, early signals point to a potential rebound in UK online sales, with significant growth reported in the aftermath of Christmas. According to Wunderkind, a leading performance marketing specialist, there was a notable 9.5% week-on-week surge in web revenues during the week following December 25.
While the week before Christmas typically sees a slowdown in online sales due to delivery concerns, the 9.5% increase suggests resilience in consumer spending. Wunderkind suggests that consumers deliberately postponed purchases to take advantage of post-Christmas discounts.
Boxing Day emerged as a powerhouse for e-commerce, witnessing an extraordinary 51% week-on-week increase and a substantial 39% jump compared to 2022. Bargain-hungry shoppers flocked online, particularly as certain retailers kept physical stores closed on Boxing Day. Interestingly, Christmas Day itself recorded a remarkable 123% year-on-year surge in web revenues, with consumers seizing early access to Boxing Day sales.
Wunderkind’s Marketing Pulse, analyzing over 91.2 million shopping journeys, projected that UK consumers would spend £3.7 billion on ‘deep discounts’ on Boxing Day, with fashion items leading as the most popular category. The decision of several retailers, including M&S, John Lewis, and Next, to keep brick-and-mortar stores closed on Boxing Day further fueled the surge in online purchases.
Wulfric Light-Wilkinson, GM International at Wunderkind, commented on the data, stating, “With consumers focused on making their budgets work as hard as possible this year, the data shows that many shoppers held off on Christmas spending to make the most of Boxing Day discounts. On the flip-side, retailers will have been managing a fine balancing act between meeting consumer demand for deals, driving stock sell-through, and maintaining margins.”
This surge in online sales post-Christmas reflects a positive start to the year, with savvy consumers leveraging discounts and retailers navigating a delicate balance in meeting demand and maintaining profitability.
