Boost for retailers as shoppers flock to sales
- 13 years ago
Hundreds of thousands of shoppers pounded the high streets to snap up post-Christmas bargains in a boost for retailers before VAT goes up in the New Year.
Shopping centres up and down the country were packed while crowds queued up from the early hours for the first full day of discounts at major retailers.
Department stores John Lewis and Harrods both launched their winter sales today after staying closed on Boxing Day.
But despite a flurry of trade over Christmas, the majority of retailers are expecting a slump in business in 2011, according to a survey.
The British Retail Consortium said two-thirds of retailers responding to its Retail Prospects for 2011 survey said they expected retail sales to worsen compared with 2010.
Stephen Robertson, BRC director general, said: "They believe the VAT rise will contribute to higher prices and, with fears about Government cuts and the wider economy, people will be put off spending."
Shoppers have taken advantage of milder weather to get out into the sales, spending £10,000 a minute at Brent Cross shopping centre in north-west London, which topped yesterday's rate of £7,000 a minute.
More than 50,000 people had passed through the doors of Bluewater shopping centre in Greenhithe, Kent, by 11am, with around 180,000 expected to visit by the end of the day.
Many had been queuing for bargains since the early hours to get into stores such as Next which opened at 5am.
In London, model Jerry Hall and eldest daughter Lizzy Jagger officially opened the Harrods clearance while John Lewis celebrated a 30% rise in sales for the week ending on Christmas Day, totalling £97.1 million.
Jace Tyrrell, spokesman for the New West End Company covering Bond Street, Oxford Street and Regent Street, said the shopping district was on track to reach its target of 800,000 people through the doors.
He said: "In terms of sales, we will be well over £80 million. For many retailers, today was the real Boxing Day because yesterday had restricted hours as well as the Tube strike."