Britons are predicted to splash out far more than their European counterparts on Christmas gifts this year, according to two separate reports.
UK shoppers are expected to spend an average of £499 on presents this year…
Broken down, this means that UK shoppers will spend around £36 per gift, compared to £26 elsewhere in Europe. UK shoppers will also snap up a total of 14 presents each – far higher than the average of 8 in the rest of Europe. The research also revealed that Britons are the most likely nation to ‘self-gift’.
This increased spending activity comes as billions of pounds were spent on Black Friday and Cyber Monday.
Consumers spent a record-breaking £3.3 billion online over the four days from Black Friday to Cyber Monday…
…£968 million of which was spent on Cyber Monday alone!
That’s £672,000 a minute!!
…34% more than the £720 million spent last year.
And if that wasn’t enough, on Monday 7th December, shoppers were predicted to spend a further £733 million online…. Talk about a Manic Monday!!!
Experian Marketing Senior Retail Consultant James Miller said the figures showed consumers had fully embraced the online shopping “phenomenon”. He added:
“Retailers still have more opportunities to reach customers in the run up to Christmas, with Manic Monday representing the time when consumers look to order gifts to ensure they receive them before Christmas”
The heavy discounting offered by retailers on Black Friday and Cyber Monday is not a feature of Manic Monday, but many websites offered free delivery and pushed the message that goods will be delivered in time for Christmas.