A study by RetailMeNot is predicting that shoppers will spend over £1.3 billion on presents this weekend (Friday November 28th to December 1st) in the UK.
The study estimates that £556 million will be spent on Cyber Monday (December 1st) alone.
“Cyber Monday is getting bigger every year and this year looks set to be the biggest yet, with Brits predicted to spend £23.2 million an hour on Monday,” said Giulio Montemagno, senior vice president of international at RetailMeNot.
“With sales in the US now topping £1.3 billion on Cyber Monday alone, retailers elsewhere are vying for a piece of action and looking to capitalise on the shopping frenzy with short-term promotions and eye-catching deals.
"With retailers in Britain among the first in Europe to adopt Cyber Monday, the UK is now far ahead of other European countries with sales expected to exceed that of France, Germany, Italy, Spain and the Netherlands combined on December 1st.”
RetailMeNot’s research estimates that in the UK, sales are expected to increase by 11.4 per cent or £57 million on last year.