// Shoppers set to splash £2.87 billion during ‘Panic weekend’, new data reveals
// Online sales forecasted to reach £1.22 billion across the weekend
Shoppers are set to spend £2.87 billion during ‘panic weekend’ in a rush to finish last-minute Christmas shopping.
Sales over the weekend are forecasted to rise 4.4% compared to last year’s £2.75 billion during the final weekend before Christmas.
VoucherCodes Shopping for Christmas report predicts shopper numbers will peak on ‘Super Saturday’ at 17.4 million, who will spend an estimated £1.63 billion in-store and online.
Sales on the Sunday are expected to surge 22.8% this year, equating to a £1.24 billion spend, up from £1.01 billion last year.
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Despite Royal Mail postal strikes threatening to derail festive deliveries, the report forecasts almost 43% of the weekend’s sales, equating to £1.22 billion, will be online.
VoucherCodes international senior vice president and managing director Maureen McDonagh said: “Whilst retail sales over the six week Christmas period are set to be down 3% year on year, retailers will be relieved they can expect a last-minute boost over the weekend before Christmas, as shoppers rush to stock up on festive essentials.
“Consumers will be cutting back…in response to the cost-of-living crisis but, as our report shows, they’re still planning on making the best Christmas with what limited budget they have.”
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