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Stores ready for Boxing Day sales Stores open for Boxing Day sales
(about 6 hours later)
Shops up and down the UK are due to open their doors for the traditional Boxing Day sales. Shops up and down the UK have opened their doors for the traditional Boxing Day sales.
Many stores have already launched their sales online, but some experts say they could be due for an extra boost because 26 December is on a Saturday this year. Many stores had already launched their sales online, but some experts say they could be due for an extra boost because 26 December is on a Saturday this year.
The return of VAT to 17.5% next week could also encourage shoppers to hunt for bargains.The return of VAT to 17.5% next week could also encourage shoppers to hunt for bargains.
But savings are not expected to be as great as last year because firms have been more cautious about stock levels.But savings are not expected to be as great as last year because firms have been more cautious about stock levels.
Some stores will open as early as 0700 GMT on Boxing Day, with the keenest shoppers likely to queue up even before that in the hope of securing a bargain. Some stores opened as early as 0700 GMT, with the keenest shoppers queuing before that in the hope of securing a bargain.
'Biggest day''Biggest day'
Last year, footfall on Boxing Day was up 12.5% on the previous year, driven by discounts as large as 90% in some stores.Last year, footfall on Boxing Day was up 12.5% on the previous year, driven by discounts as large as 90% in some stores.
Retailers offered the huge reductions in order to clear excess stock left behind in the wake of the financial crisis.Retailers offered the huge reductions in order to clear excess stock left behind in the wake of the financial crisis.
This year experts are predicting smaller savings, but a boost for retailers because Boxing Day falls at the weekend.This year experts are predicting smaller savings, but a boost for retailers because Boxing Day falls at the weekend.
Jonathan de Mello, from market data company Experian, said: "Most retailers make around 25% of their weekly revenues on a Saturday, and given Boxing Day is now a major shopping day in its own right, it is conceivable that Boxing Day 2009 could be 'Super Saturday' - the biggest shopping day of the year so far - rivalling even 23 and 24 December."Jonathan de Mello, from market data company Experian, said: "Most retailers make around 25% of their weekly revenues on a Saturday, and given Boxing Day is now a major shopping day in its own right, it is conceivable that Boxing Day 2009 could be 'Super Saturday' - the biggest shopping day of the year so far - rivalling even 23 and 24 December."
Research by American Express suggests that more than £3 billion will be spent in the sales, with more than a third of those questioned saying they were more likely to indulge this year because of the impending VAT increase.Research by American Express suggests that more than £3 billion will be spent in the sales, with more than a third of those questioned saying they were more likely to indulge this year because of the impending VAT increase.
The government cut the rate to 15% in December last year in a bid to boost the struggling UK economy.The government cut the rate to 15% in December last year in a bid to boost the struggling UK economy.