Retailers predict an online Mega Monday sales record
THE first Monday in December is set to be the busiest online shopping day for Britain’s shoppers.
Visa said it expected transactions to increase by 21 per cent on the equivalent day last year.
Analysts predict £320 million will be spent online as shoppers splash out on smartphones, tablets and electronic gadgets for Christmas.
Visa said more than £1 in every £3 in the UK is spent on its cards, making its data a reliable basis for market predictions of consumer spending patterns.
A combination of pay day for most consumers falling on the last Friday of the month and a weekend spent browsing the shops, results in shoppers logging on to buy their gifts online on the subsequent Monday. According to Visa these factors will result in consumers spending £222,222 a minute, making 4,722 transactions every 60 seconds. Dr Steve Perry, commercial director at Visa Europe, said: “On ‘Mega Monday’, people across the UK will go online and use their Visa cards to make 6.8 million transactions, the most in a single day in UK history signalling that consumers are becoming increasingly accustomed to the advantages of shopping online for Christmas. ”
Mega Monday was also being anticipated by John Lewis, Argos and Amazon. John Lewis has led high street retailer in turning itself into a “Click and Collect” outlet – with stores being complemented by online activity.
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