The news stories all seem to indicate that Boxing day was a huge success for retailers (*,*). If this is the case, then the rapid slowdown in retail spending recorded over November and early December may have been the result of timing issues and price expectations, rather than poor consumer sentiment.
What do I mean? Well, it is possible to delay transactions – buying the same thing tomorrow is a substitute for buying it today. As a result, if consumers thought that there would be big sales on boxing day, they may have put off purchases earlier in the month.
Now, if this is the case, retailers appear to have caught the consumers here. When I went shopping, the sales appeared to be little different to the sales available prior the Christmas.
Even with the lack of cut price deals, people obviously still went out and bought things – I couldn’t even find monopoly at the Warehouse 🙁
What was your impression of the boxing day sales?