More than £726 million could be spent by last minute shoppers on Christmas Eve, according to research by Sainsbury’s Bank Credit Cards.
The study of consumer shopping habits in the run up to Christmas reveals that a high number of people are leaving some of their festive shopping until the last minute; 37.6 million people(1) expect to hit the shops in the last week before Christmas. According to the research, Christmas shoppers’ total spending in Christmas week (Monday 19th– Saturday 24th) will be £191 each, rising to £313 for those living in London compared to the North West average of £146.
Christmas Eve shopping in 2016 is more likely to be due to picking up the last few items, rather than a frantic last minute shopping spree. According to the results, an estimated 22.6 million shoppers will still have festive shopping to do on Christmas Eve, although only 4% expect to spend 50% or more of their Christmas week shopping budget on Christmas Eve.
In the week leading up to Christmas, looking at shopping overall, 44% expect to place some or all of their shopping on their credit card. In terms of Christmas gifts alone, the research reveals that 19% of shoppers will predominantly use a credit card.
Simon Ranson, Head of Banking at Sainsbury’s, said: “Our research shows that last minute Christmas shopping continues to be as popular as ever, with millions of people expecting to hit the shops on Christmas Eve. Our advice is to plan the best way to pay for your Christmas shopping, stick to your budget to avoid overspending and make sure you take advantage of any rewards such as Nectar points.”
Sainsbury’s Bank’s Purchase Credit Card offers 0% interest on purchases for 28 months and 0% on balance transfers for 18 months(2) and has no annual fee. Customers are also awarded two Nectar points per £1 spent in Sainsbury’s and on Sainsbury’s fuel, and one point for every £5 spent elsewhere.