Brits to splash out £3billion on shopping as Christmas 'panic week' begins

After a tough year for retailers, Brits are predicted to spend well over £3billion on last-minute Christmas gift shopping in the coming week - especially on 'Stampede Saturday'

Shoppers rushing to buy last-minute Christmas gifts are predicted to splash out £3.31billion this weekend.

With 38 million people set to shop on the high street and online, spending this weekend looks set to be 15% up on this time last year.

“Super Saturday” today will drive £1.76bn in sales, making it the most lucrative day in the run-up to Christmas and giving retailers a welcome boost. Around 12 million people will hit the high street spending £1.15bn, while 6.8 million consumers will shop online, spending £0.61bn.

On “Stampede Sunday” tomorrow, shoppers are expected to spend £1.55bn. An estimated 10 million people will spend £0.86bn in stores and 8.2 million will spend £0.68bn online.

Anita Naik, of VoucherCodes.co.uk, which released the figures, said: “This year has been tough for retailers. They will be glad to hear there’s going to be one more flurry of sales before the end of the year. While many people will be limiting what they buy this Christmas in response to the cost of living crisis, the money they do have will be put into making this Christmas one to remember.”

Today marks the start of the so-called “Panic week”, when people try to get their Christmas shopping done. But analysts Pattern warn leaving Christmas shopping to the last minute can be pricey. It found that last year, gifts such as socks, air fryers and scarfs were more expensive in the week leading up to Christmas.

Currys says the cost of living crisis has changed the way people shop, with 87% of people now teaming up with friends or family to split gifting costs.