7:23 AM
Vinay Singh
The busiest day in the festive shopping calendar is expected on Saturday as shops kick off their post-Christmas sales a week early. On the final Saturday before Christmas, also known as “Panic Saturday”, experts predict that high streets will be bustling as many retailers slash their prices for last-minute bargain hunters.
Outlets including River Island, H&M, Sports Direct, Argos and Sainsbury are already offering huge seasonal discounts, with many more sales due to be brought forward.
Those who still have Christmas shopping to do will be pleased to know that discounts are expected to average 45%, according to Deloitte. A mild autumn and low Black Friday sales have left businesses desperate to shift a buildup of stock, and around 12.6 million Britons are expected to hit the sales in search of cut-price buys, industry experts said.
Because Christmas Day 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 fell on a Thursday.
Jason Gordon, consumer business partner at Deloitte, said: “Compared with 2014, there is already a noticeable increase in both the volume and value of discounts in the runup 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.”
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