7:20 AM
Vinay Singh
Chestnuts roasting on an open fire, Jack Frost nipping at your nose; millions of fevered shoppers battling for bargain buys on overcrowded high streets across the country on “Panic Saturday” – Christmas is a magical time.
The busiest day in the Christmas shopping calendar has landed as shops kick off their January sales early in an effort to lure last-minute bargain hunters.
Around 12.6 million Britons are expected to hit the sales in search of seasonal discounts, according to the Centre for Retail Research, while a mild autumn and unexpectedly low Black Friday sales have left businesses desperate to shift a buildup of stock.
Retailers including River Island, H&M, Sports Direct, Argos and Sainsbury’s are already slashing prices – with many more sales due to kick off against tradition before Christmas.
Those still searching for the perfect Christmas gift can expect discounts of 45% on average, according to accountancy firm Deloitte.
As Christmas falls on a Friday this year, “Panic Saturday” is expected to kick off a £6bn six-day spending spree - 23% more than the same period last year when Christmas Day fell on Thursday.
Jason Gordon, consumer business partner at Deloitte, said: “Compared to 2014, there is already a noticeable increase in both the volume and value of discounts in the run-up to Christmas this year.
“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.”
Credit and debit card giant Visa predicts that shoppers will spend £1.14bn on Visa cards in stores on Saturday, which is up by 3% on last year.
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