Attention UK retailers! Brace yourselves for the imminent ‘Panic Weekend’ on December 16th and 17th, as shoppers are gearing up to inject a staggering £3.31 billion into the economy, as per the latest insights from the VoucherCodes website.
The report, titled «Shopping for Christmas: The build-up to Christmas and Boxing Day,» foresees a robust surge in sales, projecting a remarkable 15.3% increase compared to 2022 (£2.87 billion). Inflation and the strategically timed Christmas season are identified as pivotal factors driving this significant uptick in consumer spending.
This year’s ‘Panic Weekend’ arrives a day earlier, providing retailers with an additional day to captivate consumers and drive spending. An estimated 38 million shoppers are expected to flood high streets or explore online options, marking a substantial increase of 3.8 million compared to the previous year.
‘Super Saturday’ on December 16th is poised to be the apex of the week leading up to Christmas, with sales reaching an impressive £1.76 billion. Projections indicate 12.7 million shoppers on high streets, contributing £1.15 billion (a notable 19% increase). Simultaneously, an additional 6.8 million consumers are set to explore online avenues, accounting for £0.61 billion in spending.
Fast forward to ‘Stampede Sunday’ on December 17th, with a forecast of 10.3 million Britons contributing £0.86 billion in in-store purchases. Concurrently, 8.2 million online shoppers are expected, with an estimated spending of £0.68 billion. This positions Sunday as the second-highest spending day of the week, totaling £1.55 billion.
Michael Brandy, Senior Commercial Director at VoucherCodes, commented, “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. To maximize returns over ‘Panic Weekend,’ retailers should prioritize convenience and value above all else.”
