£865k to be spent per minute on Friday 23 December
With many Brits receiving their December pay cheques on 23 December, festive shopping is set to peak on the last Friday before Christmas. 10 million Brits are expected to spend £894 million in last minute gifts and groceries ahead of the big day.
This equates to £865,158 a minute, according to a new report commissioned by RetailMeNot, operator of VoucherCodes.co.uk, and conducted by the Centre for Retail Research.
The UK will account for 25% of the total expenditure on Friday 23 December across Europe, with department stores, electronic retailers and clothing stores bracing for a shopping frenzy.
The report reveals that 8.7 million Brits will be heading to the high streets and shopping centres to stoc up on presents, food and drink, spending an impressive £734 million on the final finishing touches for their festive celebrations.