Boxing Day shoppers are set to spend £3.7 billion on 'deep discounts' despite many big stores not opening

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Shoppers are set to take advantage of Boxing Day bargains and spend £3.68billion today – despite the fact many big stores will not be opening.

Shopping centres are likely to be busy, but fewer people than previous years are expected to be queuing for doors to open at 6am.

With most retailers launching their January sales online over the weekend, many shoppers will be looking for bargains from the sofa.

The decision of many of the biggest chains – including Marks & Spencer, Next and John Lewis – not to open their doors until tomorrow will also impact Boxing Day shopping crowds.

Analysts at VoucherCodes.co.uk, which studies festive spending, expect the number of people in the streets this year to be down for the fifth year in a row.

Shopping centres are likely to be busy, but fewer people than previous years are expected (File Image)

Fashion items such as clothes, shoes and accessories are the most sought-after products (File Image)

They predict that 15.3million people will shop today with total spending of around £3.7billion.

Its experts estimate that £2.31billion of this will be spent on high streets and at shopping centres – a fall of 6.8 per cent on last year – and some £1.37billion online, an increase of 4.4 per cent.

The company said: 'Despite large numbers of shoppers planning to make purchases on December 26, total sales are expected to drop for the fifth year running because of the ongoing cost of living crisis and falling enthusiasm for Boxing Day.

'This trend is set to continue in the post-Christmas sales week with year-on-year sales dropping 3.8 per cent from £14.06billion in 2022 to £13.53billion.' 

The company estimates that the total number of visits to the sales through to New Year will hit 102.4million, a fall of 1.9 per cent on last year.

Anita Naik, savings expert at VoucherCodes.co.uk, said: 'The Boxing Day sales are now a luxury many people are refraining from as the nation continues to contend with inflated prices.'

Retail expert Lisa Hooker, of accountants PwC, said retailers will offer 'deep discounts' to shift unsold stock, with good deals expected on toys, tech, home furnishings and DIY. 

Predicting spending levels in the Boxing Day sales is notoriously difficult and a second study by Barclays expects spending today to hit £4.7billion, £1billion more than VoucherCodes.

It said that fashion items such as clothes, shoes and accessories are the most sought-after products.