Christmas. The busiest time of year for many industries, especially retail. But will this year's festive footfall be naughty or nice? We reviewed data published by MRI Software to find out.
It's hard to consider this year's retail trends without first looking back to 2019, pre-pandemic. And the good news is that 2023 saw a return to 'normal' for Christmas retail trends with this year following suit.
As always, Black Friday kicks off the start of the silly season spending. Now with Black Friday and Cyber Monday behind us, how is the rest of the month faring?
Data from MRI Software predicts a rise in footfall for all shopping locations, including 1% increase in retail parks, 2% in shopping centres and 5% on the high street.
Jenni Matthews, MRI Software's Marketing and Insights Director, suggests high streets historically perform better during the festive season due to Christmas attractions (such as markets and lights) drawing crowds to town centres.
Matthews offered advice to retailers looking to attract footfall in to store rather than online, commenting that promotions, special shopping evenings or workshops could help drive traffic.
She also remarked that maximising convenience for customers was key, offering click and collect options and store opening times that make it easy for people to shop around their working hours. Ensuring that the atmosphere in store is welcoming, not too hot or cold.
Using data from your point of sale system to identify your business' own shopping trends and using that to manage your staffing and store operations.
Though Black Friday is considered the 'biggie' when it comes to the Christmas shopping calendar; it's worth noting that Christmas Day falls on a Wednesday this year. With some predicting that Saturday 21st December will be a 'super' Saturday with people rushing to finish their shopping.
And let's not forget the Boxing Day sales madness! According to MRI Software's data, Boxing Day shopping in recent years has only been a tad 'mad,' as families presumably prefering to continue their festivities at home. Whilst 2023 saw a peak in footfall on Thursday 28th December as people ventured out of their Christmas lull.
So, though the Christmas countdown is on, there's still plenty of December shopping days left to make 2024 a very bright and prosperous year in retail.
If you need assistance with retail reporting from your EPOS Systems' point of sale system, then one of our EPOS Experts will be happy to help. Contact our support team today.