Christmas shopping in Scotland is expected to bring in £6bn in the 6 days between the 19th and 24th of December as huge discounts are offered in an attempt to lure shrewd shoppers into stores.
Over £2 million was spent on Saturday the 19th of December alone as more than 1.5 million people flooded the shops to buy Christmas presents. Following a relatively unsuccessful Black Friday last month, many big name companies have chosen to begin Christmas sales earlier than Boxing Day.
Deloitte consumer business partner, Jason Gordon commented:
‘With the exception of 2008, this is the deepest pre-Christmas discount we’ve seen in the last decade.’
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Last year, the Saturday before Christmas, (which people have taken to calling, ‘Panic Saturday’, due to stressed shoppers trying to fulfil their last minute Christmas lists on this day), was the biggest day of the year for sales and the trend has continued for the second year running. It is suspected, sales this week will continue to skyrocket as Christmas is on a Friday this year, leaving 5 full shopping days after Panic Saturday.
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Christmas Shopping Debts?
An estimated 23% more will be spent between the 19th of December and the 24th of December this year than during the same period last year when Christmas was on a Thursday. The Centre for Retail Research estimate 12.6 million people will shop in the sales across the UK in the run-up to Christmas.
Deloitte’s Gordon surmised: “Whilst this is good news for consumers looking to grab a bargain, it is a clear sign that retailers are being faced with what is now an annual uphill battle.”
Remember to manage your spending while Christmas shopping as one in five Scots are still paying off last Christmas.
If you overdo it with your Christmas shopping debt, there is a very real fear that you could be one the wrong end of the Blue Monday blues in the following January.