Shoppers set for £4bn Boxing Day bargain hunt

Boxing Day bargain hunters are hitting the sales today and are expected to spend nearly £4bn.

Almost a quarter of Britons (23%) will shop in the Boxing Day sales, down from 32% last year, according to Barclaycard.

Figures suggest the incentive to buy in the sales has weakened following widespread discounting that continued well into December.

But shoppers are still due to spend £2.95bn on high streets and £900m online, said VoucherCodes.co.uk.

The New West End Company is among those expecting a bumper Boxing Day, projecting a spend of £55m.

They attribute the spending to a sustained increase in trade from international shoppers after the Brexit vote.

Jace Tyrrell, chief executive, said: "We expect a significantly higher number of Chinese tourists to come over specifically to bargain hunt."

Myf Ryan, chief marketing officer, Westfield UK and Europe, said: "Boxing Day continues to be Westfield's busiest day of the Christmas trading period.

"Last year over 330,000 shoppers visited our two Westfield centres in London and again this year we are expecting similar numbers.

"During the Christmas period last year, shoppers spent over £500,000 per hour."