Over 23 million people will finish their Christmas shopping today.
New research from Sainsbury’s Bank reveals that around 23.6 million people (49.9% of UK adults) have left some of their festive shopping until Christmas Eve.
Based on interviews with people regarding their Christmas week spending habits, the Bank estimates that £832 million could be spent the day before Christmas.
Other key findings include:
· Many more people are expected to shop on Christmas Eve in 2014 compared to last year (23.6 million compared to 17.5 million)
· 11% of all shopping in the Christmas week is estimated to take place on Christmas Eve
· 45% say they plan to buy gifts using money they have saved over the course of the year
· More than one fifth (22%) say they plan to use a credit card that they would either pay off in full, or switch to a 0% balance transfer card
· A further 4% said they will buy gifts using a 0% purchase credit card
Simon Ranson, Head of Banking at Sainsbury’s Bank said: “It appears that fewer people are leaving all of their shopping to the last minute however our research shows there could be a rising number who are hitting the shops for one or two further gifts or last minute items.”