UK Tills Ring On 'Biggest Ever Shopping Day'

Retail history is expected to be made in the UK today with analysts predicting the busiest shopping day ever recorded.

Visa Europe believes that the nation's shoppers will use its cards to spend over £1m a minute, nearly £18,000 per second - totalling £1.5bn across the day.

The company maintains that the record spend will equate to year-on-year growth of around 8%.

But the British Retail Consortium sounded a warning note for its members, many of whom are struggling in the midst of a challenging economy.

Director general Stephen Robertson said: "After a late start to Christmas buying, consumers were out on the streets in greater number than for the same week in 2010, although the big question is whether it has translated into enough spending to make up for a largely disappointing year.

"Retailers have been working hard to encourage people into their stores, running exceptionally high levels of promotions and discounts.

Mr Robertson added: "They will be relieved to see that effort paying off, but for some, the season still hangs in the balance.

"Many sales are being made at the expense of margins and good trading."

The so-called 'man dash' of men doing last minute shopping is expected to be a major factor, according to some of the big retailers.

John Lewis said purchases of lingerie, fragrance and speciality chocolates had soared at its department stores, with warm pyjamas also popular despite weather forecasters' predictions of a mild Christmas.

In fact, sales at the group's department stores have already surged 21% this week.

Food sales at Waitrose also rose but by a less impressive but commendable 3.3%.

This may be because budget-conscious shoppers have switched to less expensive chains.

Morrison's expected its busiest minute of the entire year fell between 12.44 and 12.45, when 57 trollies were predicted to have passed through the tills of its 471 stores every second.

Judging by record sales at Tesco (LSE: TSCO.L - news) this week, more Brits than ever will be drinking bottled ale with their Christmas dinner.

The country's biggest retailer has sold half a million bottles of ale, a 65% increase on last year, due to the growing interest in drinking beer with meals.

Meanwhile, the big spenders seem to be coming from abroad with Chinese shoppers helping to fund the Christmas boom on Britain's high streets.

But while December 23 may be the biggest shopping day overall, Visa predicts that the busiest shopping hour of the year will be on Christmas Eve between noon and 1pm, in a final flurry of activity before Christmas Day.

A rash of discounts and sales is likely to hit profit margins as stores fight to entice cash-strapped shoppers through their doors.

Shopping comparison website Kelkoo said the average family spend this festive season will be close to £700.

Online sales are also expected to soar by about 16% to £13.4bn this Christmas compared to last year, and in comparison to a 2% fall on the high street, according to the report.