Over £150 million will be spent online on Christmas Day, according to new research.
The Interactive Media in Retail Group (IMRG) reports that around 4.8 million people will spend approximately £153 million via the internet on December 25th - making it a record Christmas Day for web retail spending.
Many retailers such as clothing retailer Reiss and DIY and homeware specialist B&Q have already started their sales period, with the aim of boosting revenues before the year is out, and many people will be heading online to find some bargains on Saturday.
Payments company Visa Europe expects around 960,000 transactions worth £36 million to be made on Visa cards alone on a day that is traditionally about spending time with family members and over indulging.
IMRG Managing Director David Smith said: “Christmas Day has become a busy online shopping day in recent years, as people with an eye for value look to take advantage of the 24/7 nature of online retail.
“With many people not being able to get out to the high street sales due to the wide-ranging impact of the snow, online could see a real boost over the next few weeks.”
Steve Perry, Commercial Director at Visa Europe, added: “The lure of early Christmas sales this year will see record numbers of people heading online on Christmas Day to snap up bargains, and we expect online purchases to make up half of all the Visa card transactions we will process on that day.”
IMRG and Capgemini’s published their e-Retail Sales Index this week, which showed UK online sales reached £6.4 billion in the in November - a 23.4 per cent month-on-month increase.