Shoppers to spend 1.3 billion pounds on December 23

UK shoppers are expected to spend 1.3 billion pounds on Visa cards on Wednesday, December 23, making it the biggest shopping day of the year, according to Visa Europe.

The credit card company said more than 37 million transactions are set to take place on December 23, up 10 percent on 2014, and total spending is predicted to rise by three percent year-on-year.

Shopping is expected to peak in the lunch hour break between 1-2pm, with 3.2 million transactions set to take place. Across the whole day, more than 1 million pounds will be spent on Visa cards every minute, rising to nearer 2 million pounds every minute in the peak hour.

Kevin Jenkins, managing director UK and Ireland at Visa Europe, said: “On December 23rd, Brits will race to the high-street to pick up last-minute presents, despite starting their Christmas shopping early this year with record amounts spent online on Black Friday.

“As consumers turn to their mobiles and tablets to take advantage of retailers’ last minute Click and Collect services in the run up to the 23rd, retailers may also see a surge in footfall on the day, with the opportunity for further shopping in-store when consumers arrive. With shoppers having more choice about where and how to buy than ever before, it’s an opportunity for retailers to get their multi-channel offering right.”