New data is predicting that around £9.21 billion worth of purchases will be made by 103.6 million shoppers this week.
Today (Thursday 22 December) will see £1.34 billion spent by Christmas shoppers, while the report from VoucherCodes is predicting that the majority of shoppers – 10.1 million – will visit physical stores.
There will be an estimated £0.87 billion spent in-store and an additional £0.47 million spent online, reported The Industry.Fashion.
On Friday 23 December, UK consumers are forecast to spend £1.55 billion, a 5.4% rise year on year due to National Rail strikes beginning at 3pm on Christmas Eve. For this same reason, bricks and mortar stores are set to hit a 23% slump in sales on 24 December to £1.13 billion. It will see the lowest sales this week, with in-store sales falling 28% year on year.
Consumers are forecast to spend £1.08 billion online during Christmas Day. During the Boxing Day sales, shoppers are expected to spend £3.59 billion (a 8.9% decline year on year).
“With competition stiff and shoppers savvier than ever, this week, the retailers who prove that they’re committed to providing value for money to their customers by running offers and rewards are likely to see the healthiest profits,” commented Maureen McDonagh, svp international and md at VoucherCodes.co.uk.
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