Online shopping is expected to boom today with cyber shoppers expected to spend £537million online in one day. Today will be the busiest shopping day of the year, and dubbed ‘Manic Monday’ by internet retailers, the day represents a chance for the retail industry to boost their sales figures for the year.
Retail comparison website, Kelkoo, believe that spending today will top £22million an hour, and Visa Europe expects that sales will peak during the lunch hour and between 7 and 8pm, when users log on having got home from work.
Visa, who will be responsible for a large number of the transactions, have found that 74% of consumers plan to buy Christmas presents online this year, with 30% hoping to do more shopping online than they did this time last year.
The rush, believed to be as it’s the first Monday since the last pay day of the year before Christmas, is good news for retailers, with Tesco.com anticipating 80,000 orders in one day. 71% of those surveyed gave avoiding the queues in high streets and shops as their main reason for shopping online.
Interestingly, the busiest day on the high streets will be the Saturday 18th December, just before Christmas, but with delivery times to deal with, internet shoppers are getting their orders in a lot earlier than those who still visit shops for presents.
With VAT due to increase from January, maybe it shouldn’t be a surprise that shoppers are spending money this Christmas.