British retailers gear up for pre-Christmas rush
- 24th December 2014
- Business & Economy
![British retailers gear up for pre-Christmas rush](/media/5166508/christmas-shopping-1-copy.jpg?anchor=center&mode=crop&quality=80&width=1920&height=500&rnd=132276231020000000)
Shoppers will spend more this week than at any point of the year in the final Christmas 2014 shopping spree.
Supermarkets and shops prepare for the biggest shopping week of the year as consumers rush to finish their Christmas shopping. Visa forecast around ÂŁ1.3 billion will be spent on credit cards as the final dash to complete Christmas lists begins.
Just Tuesdayâs spend is projected to surpass that of Panic Saturday, where consumers are estimated to have spent around ÂŁ1.2 billion, according to the Centre for Retail Research (CRR). However, itâll take a gargantuan splurge to eclipse that of the internet-fuelled spending bonanza that was Black Friday.
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ÂŁ1 million will be spent per minute between 1pm to 2pm
The busiest time of day is expected to fall between 1pm and 2pm where an estimated ÂŁ60 million worth of transactions will take place. Thatâs ÂŁ1 million per minute and around ÂŁ15,000 a second.
âItâs the day when disorganised Christmas shoppers panic-buying last-minute presents meet the organised shoppers preparing to buy fresh food for Christmas Eve, Christmas Day and Boxing Day,â said Joshua Bamfield, director of the CRR. He estimates around ten million shoppers will be active.
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This week is expected to be busier on the high street as there simply isnât time to confidently expect an online parcel to be delivered, especially considering the number of delays to deliveries following Black Fridayâs spending spree.
The number of customers taking to the streets has surprised a few retailers, but more than that, the hordes of internet shoppers highlighted how underprepared some of the retailing giants were in the online sector.
Sainsburyâs suffered a computer failure that cancelled hundreds of online orders, customers have been offered re-delivery dates but they wonât be receiving anything before Christmas. Waitrose also had a few IT hiccups that put their website âinto meltdownâ and culminated in a number of failed deliveries on Sunday night and Monday morning.
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