Panic Weekend Predicted To Boost Festive Sales By £3.43bn

• Panic Weekend (20th-21st Dec) sales set to rise 12.8% year-on-year

• 49.6 million people expected to shop this weekend - a 26% uplift versus last year

• Offline spending to exceed online spending, hitting £2.55bn

This year Panic Weekend (20th-21st Dec) sales are forecast to rise 12.8%, with shoppers leaving their purchases until the very last-minute.

The Shopping for Christmas Report by VoucherCodes.co.uk, the UK’s most-trusted discount site, anticipates Panic Weekend sales will hit £3.43bn, marking a rise on the £3.04bn spent by shoppers last year.

With budgets under pressure and the autumn budget casting uncertainty over household spend, consumers have left their Christmas shopping later this year with Panic Weekend customer numbers up 26% year-on-year. Over the two days, 49.6 million people will shop either in-store or online - that’s 10.3m more than the same weekend last year. 

Forecast spend and customer numbers over Panic Weekend (20th-21st Dec)

As the last full weekend before Christmas, consumers will be making the most of their time off work, and as a result offline spend is set to reach £2.55bn over the two days. On the other hand, as last Christmas order dates inch closer, online spend will hit a more modest £0.89bn.

Super Saturday

With just five days left until Christmas, Super Saturday (20th Dec) is set to be the most lucrative day over the week leading up to Christmas, with 26.5 million people predicted to shop. In just one day alone, £1.75bn will be spent on festive purchases. 

The majority of spend (£1.31bn), will come from in-store sales, whilst a further £0.44bn will be spent online.  

Stampede Sunday

When it comes to Stampede Sunday (21st Dec), slightly fewer people are set to shop with 17.0m braving the high street and 6.1m shopping online. As a result, sales will also be a touch lower at £1.69bn - that’s still £3.7m a minute and £224.8m an hour.  

With fewer people shopping, sales will also be more modest with a predicted £0.45bn to be spent online. Another £1.24bn will be spent on British high streets. 

Moji Oshisanya, Chief Commercial Officer at VoucherCodes.co.uk, comments: “Consumers have been reluctant to spend so far this festive season, with economic uncertainty putting a dampener on festive sales. However, as we edge closer to the big day, Brits will unleash their spending power, stocking up on festive food, last-minute gifts and more, ready to celebrate with friends and family.  

“For the retail industry, who have seen less than optimal sales so far, this is great news and a welcome boost to end-of-year numbers. The challenge now is to make the most of the flurry of customers and sales. Whilst consumers will be spending, they’re actively looking for value and a saving where possible. Retailers who match this consumer desire by offering deals, discounts, or rewards (such as free delivery, freebies, or even top-tier customer service) will win-out, encouraging purchases and building loyalty that lasts into the new year.” 

Source : VoucherCodes.co.uk

Image : IR_Stone / iStock / 540844202

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