This Saturday is predicted to see a major boost in footfall and a £2.6 billion spend on cards as shoppers flock to grab last-minute presents.
New research from Worldpay has predicted that high streets could see a 45 per cent boost in footfall, and department stores could see a massive 127 per cent rise in what is being dubbed “Panic Saturday”.
Panic Saturday is expected to spark a weeklong shopping spree with spend topping £17.6 billion on credit cards. While this Saturday is set to be the biggest shopping day of the year to date, outpacing even Black Friday, December 23 is predicted to be even bigger with a card spend of £3 billion.
Across the country, Milton Keynes is predicted to see the largest boost in footfall, rising by 63 per cent. Meanwhile high streets in the North East come close behind, with Newcastle City Centre expected to see a 62 per cent rise.
“Christmas is the only time of the year that we convince ourselves it’s okay to overspend and our latest data suggests trading in the run-up to Christmas could be up by as much as 7%** compared to 2015,” Worldpay chief marketing and commercial officer James Frost said.
“Retailers who ignore the impact this intense shopping period will have on their business do so at their peril.”
“We’re entering the most frantically commercial week in the retail calendar, so while bargains are a bonus it’s reliability and convenience that stressed out shoppers will crave over the coming days.
“For retailers this means putting more staff on the shop floor to offer advice, locate items and take payments, alleviating pressure from the tills as customers queue to purchase items and making the shopping experience painless even at the busiest of times.”