£183m to be spent online today
If you're planning to do a spot of Christmas shopping on the internet after reading this, you won't be alone.
Today an estimated £183m worth of products will be bought online, analysts predict.
That's the most ever in a single day, and 40% higher than last year's high of £131m. Last year, online shopping peaked on Monday, December 12 - but millions of shoppers were frustrated when their gifts arrived late.
This year we will buy earlier to avoid disappointment, bringing the online spending spree forward by a week, the Interactive Media in Retail Group forecasts.
Mondays are traditionally busier than the rest of the week because families tend to discuss their wishes at the weekend and place orders at the start of the week, said IMRG chief executive James Roper. It is also more common for consumers to do their online shopping on their office computers, despite nearly half of households having broadband Internet at home.
And millions of workers who get paid at the end of the month will have now received their last pay cheque before Christmas and worked out their festive budget.
Today spending is predicted to be most furious during the 1pm to 2pm lunch break, with sales expected to top £14m. Another surge will follow between 7pm and 9pm when more than £22m will be spent.
The most popular purchases will include mobile phones, digital cameras, iPods, games consoles, DVDs and books.
The busiest day for customers to actually visit the shops is expected to be Saturday, December 23, with spending predicted to hit £2.7bn.
But the internet boom is likely to hit the High Street again this year, with two out of five gifts bought online.
A City retail expert warned last week that festive sales for traditional retailers could be the worst in 25 years. Shops have already seen poor sales in the past seven weeks, according to Richard Ratner of Seymour Pierce.
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Specialist retailers are being squeezed by the growing strength of Internet stores and the power of the supermarkets, which are dramatically increasing their ranges. Families under pressure from higher interest rates and rising gas and electricity bills can expect to benefit from a range of discounts on the High Street as retailers fight back.
Many traditional chains will offset lost sales in their stores by improving their own online presence. Many now accept their shops have become little more than 'display cabinets' for products that can be bought on the internet.
•• Sales of chocolate fountains are booming in the run-up to Christmas. Stores say they are selling hundreds of thousands as families look for treats for their festive parties.
Woolworths has sold 50,000 and expects to sell out completely in the next fortnight. Selfridges is selling a 24 carat gold-plated version as well as cheaper varieties.
A Woolworths spokesman said: 'People have seen chocolate fountains at weddings and functions and thought, 'I want one'. Retailers have produced affordable versions and suddenly they are a huge hit.'
The machines melt chocolate, which is then pumped out at the ideal temperature for eating. Foods such as strawberries and marshmallows can be dipped in the chocolate.
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