'Cyber Monday' kick-starts festive rush
Online retailers are set for a major festive boost, with millions to be spent on what has become known as 'Cyber Monday' - the single busiest day for online transactions in the run up to Christmas.
Monday, 03 December 2012
Online shopping stats have consistently peaked on the first Monday in December over the last few years, due at least in part to the arrival of that last pay cheque before the holidays.
A number of online retailers are predicting that Monday will be their biggest single day for sales, with Amazon.co.uk preparing for what could be the busiest day in its history.
"We're preparing for it by hiring more than 10,000 seasonal employees across our eight UK fulfilment centres," Christopher North, Amazon.co.uk managing director, said.
On the equivalent Monday last year, Marks & Spencer tripled its usual number of online orders, with one placed every second.
Asda Direct is expecting spikes of 50-70% across its range and predicts its fashion brand, George.com, shift 12,000 onesies in one day alone.
Consumers will spend £222,222 per minute, making 4,722 transactions every 60 seconds.
According to Visa Europe, £320m will be spent on its cards alone as online transactions increase by 21% to make this Cyber Monday the busiest online shopping day in history.
Transactions are predicted to top 6.8m.
Throughout December, it's thought more than £11bn will be withdrawn from cash machines across the UK - more than £41,000 per second.
UK online shoppers are expected to make 115m visits to retail websites this Cyber Monday.
The high street will have to wait until closer to Christmas for its traditional peak - the weekend of 22 and 23 December.
Last month, a survey commissioned by Royal Mail revealed that 43% of people are planning to do more shopping online than last year, while 57% will do the same amount.