Retailers can expect sales of up to £1.4bn tomorrow as consumers make a last-minute dash to the shops to stock up for Christmas.
High street retailers may be as much as 45% busier than on an average weekend as a result of the late spending spree, according to analysis by payments processor Worldpay reported by City AM.
The retail industry is pinning hopes on last-minute spending to lift Christmas performance after snow disrupted recent trading and Black Friday shifted spending patterns.
Worldpay UK chief marketing officer James Frost said the chilly weather and the fact that Christmas falls on a Monday this year will create a “double whammy” leading to a late rush to stores.
He said: “The 23rd of December is always one of the busiest shopping days of the year, but in other years a lot of that spending will come from food and grocery as people get ready for a Christmas Day feast.
“The way Christmas has fallen this year, however, added to the impact of the recent cold snap, which saw many consumers stay at home, means shoppers are far more likely to take things right to the wire when it comes to buying gifts.
“The overall result of this is a kind of double whammy effect, which should contribute to an extraordinary day of spending.”
Worldpay expects supermarkets and grocery stores to win spend of £631m, while department stores could take as much as £113m and clothing and footwear shops up to £90m.