Shoppers to spend over £3bn in pre-Xmas ‘panic weekend’
Some 38 million people are expected to shop either in-store or online over the 16 and 17 December – 3.8 million more than last year
The 16 and 17 December, so-called the ‘panic weekend’, will see shoppers spend £3.31bn as they rush to finish their Christmas shopping, according to a new report by VoucherCodes.co.uk.
The report, which has looked into Christmas shopping habits in the build up to Christmas and Boxing Day, forecasts a “strong” weekend of sales for retailers, with spending set to rise by 15.3% compared with last year when the same weekend saw a £2.87bn boost.
This has been attributed to the fact that 38 million people are expected to shop either in-store or online over the panic weekend – 3.8 million more than last year.
According to VoucherCodes, the panic weekend will fall one day earlier this year than in 2022, meaning that retailers have extra time to “entice customers to spend”.
The report suggested that 16 December will see the highest sales figures over the week leading up to Christmas, peaking at £1.76bn. Whilst 12.7 million people are forecast to hit the high street and spend £1.15bn – 19% more than last year – a further 6.8 million consumers will shop online, spending £61m.
Meanwhile, it is predicted that 10.3 million Brits will spend £86m in stores on 17 December, while a further 8.2 million people will shop online and spend £68m. These estimations will make Sunday 17 December the day with the second highest spend across the week at £1.55bn.
Michael Brandy, senior commercial director at VoucherCodes.co.uk, said: “This year has been particularly tough for retailers so it’s great to see there’s going to be one more boost to sales before the end of the year.
“With sales forecast to increase by an enormous 15.3% year-on-year and customer numbers set to increase by 10.5% over the weekend, both online and offline retailers should brace themselves for a last-minute festive rush.”