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17.1m Consumers To Shop On 'Panic Monday'

IR_Stone London Christmas light shoppers iStock-1355828207
  • 17.1m consumers to shop today (19th Dec) - 10.7m in-store and 6.4m online

  • £1.25bn to be spent both online and offline

  • More consumers set to shop today than any other day in week up to Christmas

  • Sales down 10% versus ‘Panic Monday’ 2021

Shoppers are expected to spend £1.25bn on ‘Panic Monday’ (19th Dec) as they rush to finish last-minute Christmas preparations, according to a new report.  

VoucherCodes’ Shopping for Christmas Report: The build up to Christmas reveals that 17.1 million people will make a Christmas purchase today either online or in-store, more than any other day in the week leading up to Christmas. However, sales are set to fall by 10% versus the same day last year (£1.39bn) due to consumers cutting back in response to the cost-of-living crisis and Christmas falling on a Sunday, giving shoppers an extra day to spend.  

The majority of people will shop in brick-and-mortar stores (10.7m), spending £0.73 million over the course of the day - a decline of 24.7% YoY.

But, in good news for online retailers, a further £0.52bn will be spent online as 6.4 million people squeeze in purchases before the Christmas last order dates. This is a rise of 23.8% YoY likely because Christmas is a day later and therefore consumers have an extra day to shop online.

Maureen McDonagh, SVP International and Managing Director at VoucherCodes.co.uk, comments: “Retailers have had a tough few months and unfortunately this ‘Panic Monday’ is no exception. However, strong customer numbers and online sales figures will make up for some of the decline in in-store spend. Plus, as Christmas falls on Sunday, sales will be spread over more days meaning more opportunities for customers to shop and get a great deal.  

“Whether in-store or online, retailers hoping to gain from the last-minute shopping rush should make sure any deals and discounts are front-of-focus to show customers what’s on offer. This will also help to demonstrate that your brand is offering genuine value to the consumer.”

Source : VoucherCodes.co.uk

Image : IR_Stone / iStockphoto.com -1355828207

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19 December 2022

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