According to Christmas sales figures put together by the British Retail Consortium (BRC), this year Christmas sales are expected to be “acceptable”, but not “exceptional” as they usually are.
Experts estimate that a whopping £5bn will have been spent over the weekend as millions flocked to the shops to buy last minute gifts and to stock up on food and booze.
The credit card company Visa Europe predicted that Saturday would be the busiest shopping day on the high street, with an estimated 31 million transactions going through.
So why the worry from retailers?
Well according to Richard Dodd, head of media at the BRC, many individuals have left their shopping very late this year because they were reluctant to spend their money and were holding out for last minute bargains – meaning that even though the last shopping weekend was a busy one – the weeks leading up to Christmas did not bring about the usual surge.
The Local Government Association (LGA) also said that confidence on the high street was low, and that a pre-Christmas survey revealed that 84% of town centre managers said confidence among shoppers had either worsened or not improved since the same period in 2011.
Experts have also said that the cold and damp start to the winter could have also taken its toll on the number of individuals visiting the shops.
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