Home Business News ‘Panic Monday’ will see an astonishing £1.13 billion spent in a last-minute Christmas shopping rush

‘Panic Monday’ will see an astonishing £1.13 billion spent in a last-minute Christmas shopping rush

by LLB Finance Reporter
18th Dec 23 10:12 am

The Shopping for Christmas: The build up to Christmas and Boxing Day sales report by VoucherCodes.co.uk reveals that today 20.1 million Brits are expected to shop in-store or online as they stock up on festive essentials, making this the busiest shopping day in the run up to Christmas.

This marks a 17.5% rise on the last Monday before Christmas in 2022, when 1.71 million consumers spent.

However, whilst customer numbers are up year-on-year, sales figures are set to be down by 9.6% at £1.13bn versus the £1.25bn spent last year. With a high volume of sales expected over Saturday 16th and Sunday 17th and the cost-of-living crisis putting a big dent into consumer budgets, many people will have less to spend by the 18th December.

Over today, brick and mortar retailers can expect a boost of £0.70bn as 12.4 million people  are set to shop on the high street and in supermarkets.

As well as spending in-store, 7.7 million consumers will head online to find their desired items, spending £0.43bn before retailers’ last order dates.

Michael Brandy, Senior Commercial Director at VoucherCodes.co.uk, said, “Today retailers can expect a welcome boost in footfall as consumers make their final Christmas purchases, however online retailers can also expect a healthy day of sales.

“Adding last order dates to your site is a good way to drive up urgency and encourage customers to make a purchase in the run up to Christmas.

“Coupling this with free delivery discount codes or deals will further incentivise consumers to spend with you, as well as driving loyalty by providing value to your customers when they need it most.”

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