The fall in spending marks a big drop in the amount of items being bought given inflation remains at about 4.3%, with shoppers reining in spending on non-essential items to cope with high household bills after a surge last year.
Just 14.3% of consumers expect to go to the Boxing Day sales or buy goods online in the days after Christmas, according to GlobalData research for the Vouchercodes website.
Even the US-inspired Black Friday sales period was lacklustre this year, with spending on expensive items such as coats held up by a warm autumn, which has forced many clothing retailers to discount heavily as they have too much stock.
Anita Naik, a savings expert at VoucherCodes, said: "The Boxing Day sales provide shoppers with a last-chance opportunity to splurge on themselves for the year.
Denne historien er fra December 26, 2023-utgaven av The Guardian.
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Denne historien er fra December 26, 2023-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Lammers blow against United as Twente hit back to share spoils
When Manchester United click as they did here for large swathes, their attack features organised chaos and their defence is compact, as shown by their four clean sheets this season.
Cricket: Jacks stakes his claim in crowded top order
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Top football clubs breaking betting advert rules meant to protect minors
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UK growth forecast upgraded as global outlook improves
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Officials brief Trump on suspected Iranian plot to kill him
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EU trust fund for Africa 'has not addressed risks of abuse'
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Letby case: father tells of 'headless chickens' at hospital unit
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Music review: Monster hits perfectly reshaped by new female vocalist
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