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Stores open for Boxing Day sales Stores open for Boxing Day sales
(about 1 hour later)
Shops up and down the UK have opened 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 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.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 opened as early as 0700 GMT, with the keenest shoppers queuing 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.
Last year, footfall on Boxing Day was up 12.5% on the previous year, driven by discounts as large as 90% in some stores.
ANALYSIS Joe Lynam, BBC News Such had been the sense of impending doom among Britain's retailers 12 months ago that last year's Boxing Day sales ended up being a mere continuation of the massive discounting which had been under way for most of last December.ANALYSIS Joe Lynam, BBC News Such had been the sense of impending doom among Britain's retailers 12 months ago that last year's Boxing Day sales ended up being a mere continuation of the massive discounting which had been under way for most of last December.
This year there is enough evidence to suggest that those retailers who have survived the recession have refused so far to blink in their annual game of chicken with their customers.This year there is enough evidence to suggest that those retailers who have survived the recession have refused so far to blink in their annual game of chicken with their customers.
But that blinking will begin in earnest today when tens of thousands are expected to take to the High Streets and out of town centres to pick up the kind of bargains unimaginable two days ago.But that blinking will begin in earnest today when tens of thousands are expected to take to the High Streets and out of town centres to pick up the kind of bargains unimaginable two days ago.
Clarks, Next, Matalan and IKEA are all offering up to 50% off today - with Debenhams cutting prices by up to 70%.Clarks, Next, Matalan and IKEA are all offering up to 50% off today - with Debenhams cutting prices by up to 70%.
Then there's added the impetus of VAT rates going back up to 17% on New Years Day. That should persuade many shoppers of big-ticket items such as furniture and white goods to bring forward their trips to town.Then there's added the impetus of VAT rates going back up to 17% on New Years Day. That should persuade many shoppers of big-ticket items such as furniture and white goods to bring forward their trips to town.
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.