Jingle Tills: £1.34bn Set To Be Spent By Christmas Shoppers Today

• UK shoppers set to spend £1.34bn today as Christmas looms

• £0.87bn set to be spent in-store with just three days to go until the big day

• 10.1 million people set to head out to stores across the UK

With the big day just three days away, Christmas shoppers are set to spend £1.34bn today, according to a new report.

The VoucherCodes.co.uk Shopping for Christmas 2022 report predicts that the majority of today’s shoppers will head to physical stores, with most retailers’ online last order dates having now passed. It’s anticipated that 10.1 million people are set to head to their local high street, shopping centre or supermarket today, spending £0.87bn on in-store purchases. An additional 4.5 million people are set to chance it by making last-minute online orders today, spending a further £0.47m.

2022 retail sales forecasts for the week before Christmas: in-store, online & totals. 

All figures are in £bn. 

Later this week, National Rail strikes beginning at 3pm on Christmas Eve are set to cause retailer profits to tumble, as shoppers scramble to get home for Christmas before the last trains. Christmas Eve sales are forecast to hit £1.13bn, the lowest of any day this week other than Christmas Day. 

As a result, consumer spending is set to be high tomorrow (Friday 23rd December), with £1.55bn set to be spent in just one day. Over the course of this week, (Monday 19th - Sunday 25th December), shoppers are predicted to spend a whopping £9.21bn, with 103.6 million people set to make a purchase.

Maureen McDonagh, SVP International & Managing Director at VoucherCodes.co.uk, comments, “It’s been an undoubtedly difficult year for the retail industry and consumers alike as a result of the cost-of-living crisis. With budgets tight, this year, consumers are focusing their spending on the more social elements of Christmas such as food and drink, in order to enjoy festivities with loved ones after two years of Christmases affected by Covid.

“As our forecasts show, many people will be heading out to stores today to put the final touches to their Christmas preparations, and we anticipate much of this spend to be on food and drink. 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.” 

Source : VoucherCodes.co.uk

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.