Millions of bargain hunters across the UK are hitting the high street and online stores today, embarking on a Boxing Day spending spree forecast to reach £3.6 billion. Retailers from Matalan to Currys have slashed prices by up to 70% to attract shoppers, but the ongoing cost of living crisis is casting a shadow over the traditional post-Christmas splurge.
Spending Down as Shoppers Feel the Pinch
According to data from Barclays, the predicted £3.6 billion total spend marks a sharp decline from the £4.6 billion estimated last year and £4.7 billion in 2023. While the average shopper plans to spend more—£253 versus £236 in 2024—fewer people intend to participate. Only 26% plan to buy anything on Boxing Day, down from 28% last year.
Barclays' research reveals that a significant 69% of people say cost pressures will impact their spending this year, a major increase from 47% a year ago. Karen Johnson, Head of Retail at Barclays, noted: "Shoppers have demonstrated just how cost-conscious they are throughout 2025, and we expect that we’ll see this play out during the Boxing Day sales."
The Evolving Boxing Day Tradition
The significance of Boxing Day sales has diminished for many, with Black Friday in November and pre-Christmas discounts spreading spending. Despite the growth of online shopping, half of those browsing sales still prefer visiting shops in person, valuing the ability to see and touch items and enjoy the social experience.
Separate forecasts from Vouchercodes.co.uk suggest 15.2 million people will visit shops today, with 7.8 million shopping online. However, they predict Saturday will see an even bigger surge in bargain hunting.
A notable trend is the rise of AI-assisted shopping. Barclays found that two in five shoppers use AI or other online tools to hunt for deals, a figure that rises to 53% among 18–34 year-olds.
Top Deals and Shopping Hotspots
Clothes, shoes, and accessories top shopping lists (37%), followed by food and drink, beauty products, and homewares. Savvy shoppers are also buying discounted Christmas items for next year.
Major retailers are offering significant discounts:
- Matalan: Up to 50% off across womenswear, menswear, kids, and homewares.
- Argos: Savings of up to 50% on selected gifts, tech, toys, and home items.
- Currys: Price cuts of up to 40% on electricals.
- Debenhams: The online department store has already reduced prices by up to 70%.
While Next stores remain closed, its online sale began on Christmas Eve. Major shopping centres like Bluewater in Kent, Manchester's Trafford Centre, and Sheffield's Meadowhall are opening early, with roads around retail hubs expected to be busy.
Expert Advice for Savvy Shoppers
Experts are urging caution to avoid a financial "new year hangover." Harry Rose, Editor of Which? Magazine, advises: "It can be hard to tell the genuine bargains from the dud deals... Take time to research and use a price comparison site to check pricing history."
Despite the challenges, the day remains a key retail moment. Karen Johnson added: "Boxing Day is still a pivotal moment for retailers, fuelled by Christmas nostalgia, but it has evolved to reflect modern consumer demands."
