Expect consumer spending on Boxing Day to possibly fall short of the sales event’s previous two years as concerns over the cost of living weigh heavily on decision-making, says to the Barclays Consumer Spend report.
Image: Sandra Halliday
But fashion does remain the top shoppers’ choice with beauty not far behind.
Some 69% say cost pressures will impact their spending this year, up from 47% in 2024.
UK consumers are expecting to spend £3.6 billion this time, lower than the £4.6 billion predicted in 2024 and £4.7 billion in 2023. The good news is that the average shopper intends to increase their budget by £17 compared to 2024. That said, there’ll be fewer consumers taking part at 26% down from 28% a year ago.
As mentioned, clothes, footwear and accessories all remain top this year, chosen by 37% after the category saw subdued spending in 2025.
Third is beauty products (20%), behind food and drink (27%), but ahead of homewares (20%) and discounted Christmas items (19%) ranked next.
Meanwhile, nearly half (44% ) say they plan to shop at some point during the Christmas sales period, and for this group, the January sales are the most popular time to do so, chosen by 89%.
The growth of artificial intelligence (AI) is now having an increasing influence with shoppers embracing AI and other smart tools in their hunt for deals.
And AI’s also having an influence on where consumers shop, with the report noting its use “demonstrates a renewed enthusiasm for the experience of shopping in-store”.
Demand for in-store shopping remains strong, continuing to be a Boxing Day tradition for many sales fans, as 49% of those who will browse the Boxing Day sales plan to visit shops in-person.
Those hitting the high street say they prefer to see and touch items before they buy (42%), that they like the human interaction (27%) and that they view the sales as a nice Christmas activity (26%.
People also say they would be even more inclined to visit the shops if they were offered in-store-only discounts (29%), easier access (24%), or free items with purchases (21%).
As for shopping digitally, the survey says that convenience is key with online shopping now being supported by the use of AI tools.
Online shopping remains the preference for 40%, and AI is “transforming how people seek out deals online”. Some 37% say they use AI and/or smart tools when shopping, rising to 53% for those aged 18-34.
These shoppers are turning to AI and smart tools to research products (43%), compare prices and deals (34%), generate gift ideas (31%) and set up personalised alerts (25%).
For many, the technology “provides reassurance and efficiency” with 72% saying it saves time by narrowing down the best deals, while two thirds (65%) trust AI to help find discounts. However, 50% do worry that AI tools may encourage overspending.
However, in light of growing cost-of-living concerns, a quarter (25% will only buy what they consider to be essentials in the sales. For those shopping for beauty and skincare specifically, 45% will use the sales to pick up their go-to products at lower prices, while 33% will be searching for premium beauty brands at a discount.
Karen Johnson, head of Retail at Barclays, said: “Boxing Day is still a pivotal moment for retailers, fuelled by Christmas nostalgia, but it has evolved to reflect modern consumer demands. This year, we’re likely to see a balanced blend of online convenience, experiential retail and increasingly mindful purchasing.”
The Swiss investor Arklyz has acquired the German shoe brand Gabor. The company, based in Stans on Lake Lucerne, did not disclose the purchase price. All regulatory approvals have been obtained, according to the press release.
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Previously owned by the eponymous founding family and headquartered in Rosenheim, the shoemaker is best known for its women’s footwear. The company is now wholly owned by Arklyz. The Gabor brand will be retained, and the current management team will remain in place.
Arklyz is an investment holding company founded in 2018 that is primarily active in the sports, clothing, and footwear sectors. Arklyz also acquired a German shoe brand last year: Lloyd, based in Sulingen, Lower Saxony.
Headquarters in Bavaria, production abroad
The precursor to today’s Gabor Shoes was a shoe workshop founded in 1919 in what is now Polish Upper Silesia; the company has been based in Rosenheim since 1966. According to the company’s website, Gabor is one of Europe’s largest shoe manufacturers.
In 2023, the company employed just under 2,630 people. Of these, only 366 were based in Germany; the majority worked in two shoe factories in Slovakia and Portugal. According to the German company register, Gabor posted a net profit of 13.4 million euros in 2023, with revenue totalling 282 million euros.
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Thermore, a manufacturer of thermal insulation for clothing, is making inroads in the fashion industry. “We started out in the technical segment. Synthetic insulation was initially used in ski suits. As style evolved, fashion embraced technical materials, and today it represents the largest share of our business,” CEO Patrizio Lorenzo Siniscalchi tells FashionNetwork.com.
Thermore
The company, founded in Milan by his father, Lucio, in 1972, has evolved into the sector’s first ingredient brand and today supplies down-free insulation to a wide range of fashion and luxury labels. Under the leadership of Siniscalchi Jr., it has strengthened its relationship with end consumers, who are increasingly discerning. “When we develop a new insulation product, we don’t think about our direct customer, but about the end user,” the CEO notes.
The latest collaboration is with Jaked, featuring Thermore insulation in the brand’s new outerwear collection for the Autumn/Winter 2025 season. The Impact Evo jackets, designed for racing, fitness, and sportswear, blend style and functionality, leveraging Ecodown Fibers Ocean technology, which is bluesign and OEKO-TEX certified.
Today, Thermore generates revenue of 13 million euros, with the US and Europe as its main markets. “Around 10% of sales come from Asia, primarily Korea and Japan. We have offices in New York and Tokyo. Around 90% of production is in the Far East, because insulated garments are manufactured there,” Siniscalchi continues.
On the pressing issue of the impact of fast fashion, “there needs to be a change. We must be more mindful of our consumption,” notes the CEO. “We do not use down, but recycled fibres from ocean-bound bottles, thereby helping to prevent the formation of massive plastic islands in the ocean. We have been investing in this for 40 years. We launched our first recycled product in the 1980s. At the beginning, it was difficult to find raw materials with the same quality as virgin polyester. Today, 98% of our insulation is made from recycled material. The chips used to make PET bottles are better than those used for fibres,” Siniscalchi concludes.
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Luxury menswear brand Paul Stuart has been acquired by private investment group, Middle West Partners (MWP).
Paul Stuart
MWP partnered with apparel manufacturer, Peerless Clothing Inc. to acquire the New York City-based fashion brand from Mitsui & Co., which has been with the brand for more than 50 years.
Financial terms of the deal were not disclosed.
As part of the deal, John Hutchison, former chief executive officer of Bonobos, has been appointed the new CEO of Paul Stuart, according to a press release.
“The Paul Stuart name continues to resonate with a discerning client 87 years later, and we still see so much more potential for this luxury heritage brand,” said Kevin Kelleher, managing partner of MWP.
“Our goal is to protect its unmatched quality and amplify its unique attributes on a global scale.”
Earlier this year, MWP acquired high jewelry house, David Webb, as the private equity firm looks to expand its portfolio of brands.
“Paul Stuart has been one of my family’s favorite brands for more than 25 years. It has a look that’s distinctly its own—when you walk down the street, you know it’s Paul Stuart,” said co-founding partner at MWP, Michael Hamp.
“My father and now my brothers and I have worn Paul Stuart for as long as I can remember. It is both a privilege and honor to take on the responsibility of stewarding this brand.”
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