Panic Monday: Shoppers to spend £1.39 billion today as they rush to finish Christmas shopping

  • UK consumers will spend £0.97bn in-store, despite rising concerns over Covid-19
  • £0.42bn will be spent online today
  • 17.7 million Brits will shop in-store or online
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Shoppers are predicted to spend £1.39bn today on last-minute Christmas shopping, according to a new report.

The VoucherCodes Shopping for Christmas report forecasts retail spending in the week leading up to Christmas, with £1.39bn’s worth of spend predicted today alone as consumers rush to finish their Christmas shopping.

The report forecasts that 17.7 million Brits will shop on Panic Monday, with the bulk of these shoppers expected to hit the high street (10.8 million), despite increased warnings over Covid-19 since the emergence of the Omicron variant. In-store shopping will account for £0.97bn of retail sales, whilst £0.42bn will be spent online today as many rush to get orders in ahead of the last few days for guaranteed delivery in time for Christmas.

In good news for retailers, spend is set to rise by 6.9% compared to 2020 (£1.3bn) and 7.8% compared to pre-pandemic spending (£1.29bn).

Angus Drummond, Senior Director, Commercial at VoucherCodes.co.uk, comments, “After recent changes to government advice due to the rise in Covid-19 cases and the Omicron variant, sadly the hospitality sector has yet again suffered a blow as many people cancel their social bookings for this final week before Christmas. However, these forecasts will be encouraging for the retail industry.

“It appears most will still continue to shop as planned in these last few days before Christmas. The news that both shopper numbers and retail sales are expected to remain higher than 2020 will be reassuring for retailers, as this week is typically one of the most lucrative shopping periods.”

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