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Over 23 million people will finish their shopping on Christmas Eve

23rd December 2014 Print

Around 23.6 million people (49.9%) have left some of their festive shopping until the last minute and will be hitting the shops on Christmas Eve, according to research from Sainsbury’s Bank Credit Cards.

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

The 23.6 million people (49.9%) who are expected to shop on Christmas Eve is significantly higher than in 2013, when research from Sainsbury’s Bank Credit Cards estimated 17.5 million people would still have Christmas shopping to do on  Christmas Eve.

According to the results, Christmas Eve shopping in 2014 is more likely to be a case of picking up the last few items, rather than attempting a frantic dash to do everything in a day. In 2013, Sainsbury’s Bank estimated 22% of all of the shopping in the Christmas week would take place on Christmas Eve, while in 2014 this has fallen to 11%.

The research also revealed that consumers have taken careful consideration about how they will fund this year’s Christmas presents, with 45% saying they planned to  use money they have saved over the course of the year. More than one fifth (22%) say they planned 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.”

For information on Sainsbury's Bank log onto sainsburysbank.co.uk.