Retailers prepare to cash in on “staycation” boom this bank holiday

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Bank Holiday

Retailers across the UK are poised to welcome an influx of shoppers this bank holiday, as Britons opt to stay at home thanks to the Brexit weakened sterling.

£3 billion is expected to be spent on the high street over the long-weekend, according to data from payment processing company Worldpay.

Card transactions were boosted seven per cent over the May bank holiday compared to a year prior, which Worldpay says is an “encouraging sign” for the coming weekend.

Despite strong competition from pubs and restaurants seeing sales shoot up 21 per cent and 25 per cent respectively, Worldpay expects DIY and garden retailers to perform best

READ  MORE: 5 Minutes With James Frost, Chief Marketing Officer, Worldpay UK

“This is a key period for businesses which rely on seasonal peaks in traffic and with the weather forecast looking positive – for the moment – tourist hotspots across the UK will be looking to make hay while the sun shines,” Worldpay’s James Frost said.

“The current weakness of the pound means more Brits are choosing a staycation instead of heading abroad, while foreign tourists are making the most of cheaper prices by flocking to destinations from Edinburgh to Cornwall.

“Savvy business owners will be doing all they can to make the most of this boom, from taking on extra staff to deploying technologies designed to speed up service at busy times.”

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