Britons are expected to splurge £3.43 billion on last-minute Christmas shopping during what is being referred to as “Panic Weekend.” According to projections from discount website VoucherCodes.co.uk, approximately 49.6 million people are set to partake in festive shopping this upcoming weekend, with 36.8 million planning to visit brick-and-mortar stores, providing a boost to town and city centers nationwide.
The anticipated spending frenzy is estimated to peak at an average of £2.3 million per minute on “Super Saturday,” totaling £1.75 billion overall. This weekend represents the final opportunity before Christmas for many individuals to complete their gift purchases or, in some cases, begin them.
Zoe Morris, a savings expert at VoucherCodes.co.uk, highlighted the trend of leaving shopping until the last minute, with an additional 10 million shoppers expected compared to the previous year, marking a 26.2% increase in shoppers.
Retailers can look forward to a nearly 13% increase in spending compared to last year, with footfall data indicating a 5.1% rise in shoppers last week, favoring high street locations. As Christmas draws near, retail leaders are encouraged by these positive trends, anticipating a further increase in footfall in the lead-up to “Super Saturday.”
While the festive trading outcome remains uncertain until early next year when stores disclose their figures, concerns over the late Budget announcement and potential tax hikes have impacted consumer spending. A survey indicates heightened pessimism regarding future financial health among households, with sentiments at their lowest since 2023.
Maryam Baluch, an economist at S&P Global Market Intelligence, expressed disappointment at the household confidence indicators post-Budget, citing a bleak financial outlook for the next 12 months. The data reveals deteriorating financial conditions, increased debt burdens, and wavering job security perceptions, painting a challenging economic landscape for UK households entering the new year.
The subdued household confidence and early signs of job insecurity imply limited consumer spending potential in the upcoming year, posing challenges for the economy in 2026.