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Post-Christmas sales wow shoppers Post-Christmas sales wow shoppers
(10 minutes later)
Shoppers have been flocking to the High Street over the Christmas weekend, with numbers far exceeding those from this time last year, figures have shown.Shoppers have been flocking to the High Street over the Christmas weekend, with numbers far exceeding those from this time last year, figures have shown.
The number of shoppers out on Sunday, 27 December was 17.9% up on the same Sunday last year, said Experian, a research house that measures footfall.The number of shoppers out on Sunday, 27 December was 17.9% up on the same Sunday last year, said Experian, a research house that measures footfall.
On Boxing Day, the number of shoppers was up 18.5% on the same day in 2008.On Boxing Day, the number of shoppers was up 18.5% on the same day in 2008.
Experian called the rise "exceptional", adding that shoppers may be racing to beat the VAT increase in January.Experian called the rise "exceptional", adding that shoppers may be racing to beat the VAT increase in January.
"The positive increase of 17.92% this Sunday compared to the same Sunday last year can be seen as exceptional, given that the pre-Christmas build-up performance was a lot slower paced," said Anita Sharma Manan, analyst at Experian."The positive increase of 17.92% this Sunday compared to the same Sunday last year can be seen as exceptional, given that the pre-Christmas build-up performance was a lot slower paced," said Anita Sharma Manan, analyst at Experian.
"Worryingly, the recent surge of shoppers could be short-lived as we are now only days away from the imminent VAT increase on 1 January 2010 and sales which would have been made in 2010 are happening now, already bringing forward next year's sales.""Worryingly, the recent surge of shoppers could be short-lived as we are now only days away from the imminent VAT increase on 1 January 2010 and sales which would have been made in 2010 are happening now, already bringing forward next year's sales."
In the 2008 pre-Budget report, the government cut VAT from 17.5% to 15%, effective from 1 December 2008.
It will return to 17.5% in the new year.
Despite the signs of a strong Christmas trading period, shares in retailers fell slightly.
Next shed 0.3% and Home Retail Group, which owns Argos, fell 0.9%, while Marks and Spencer was also marginally lower.