Panic Saturday rush as shoppers are expected to splash £1.2 billion today

Retailers were today (December 20) preparing for one of the biggest shopping days of the year as high street spending is set to reach £1.2 billion (N351.5bn) in what is being called “Panic Saturday”.

According to the Centre for Retail Research (CRR), some 13 million shoppers will shell out as much as £2.1 million (N615.1m) for every minute the shops are open today as many scramble to pick up a bargain, get last-minute gifts and festive groceries.

Britain’s department stores can expect to double their takings this weekend, with outlets in the north of England set to benefit the most from Panic Saturday, according to data from payment processing company, Worldpay.