Over 23 million people will finish their shopping on Christmas Eve

editorial image

Over 23 million people will finish their Christmas shopping today.

New research from Sainsbury’s Bank reveals that around 23.6 million people (49.9% of UK adults) have left some of their festive shopping until Christmas Eve.

Based on interviews with people regarding their Christmas week spending habits, the Bank estimates that £832 million could be spent the day before Christmas.

Other key findings include:

· Many more people are expected to shop on Christmas Eve in 2014 compared to last year (23.6 million compared to 17.5 million)

· 11% of all shopping in the Christmas week is estimated to take place on Christmas Eve

· 45% say they plan to buy gifts using money they have saved over the course of the year

· More than one fifth (22%) say they plan to use a credit card that they would either pay off in full, or switch to a 0% balance transfer card

· A further 4% said they will buy gifts using a 0% purchase credit card

Simon Ranson, Head of Banking at Sainsbury’s Bank said: “It appears that fewer people are leaving all of their shopping to the last minute however our research shows there could be a rising number who are hitting the shops for one or two further gifts or last minute items.”