British consumers spent a record £2.6bn at the tills yesterday, according to retail industry figures.
A report by the Daily Express newspaper said £4.6m was spent every single minute – the equivalent of £77,000 per second. Tuesday was the busiest day of the sales so far, partly due to the fact that Christmas Day fell on a Sunday this year, meaning people chose to spend Boxing Day with friends and family. A number of leading high street businesses also decided to delay the start of their post-Christmas sales until yesterday.
Retailers across the country slashed prices in a bid to encourage shoppers through their doors, using window displays and in-store displays to advertise discounts of up to 80 per cent. It has been predicted that spending for the week could hit at least £10bn.
Dr Tim Denison, director of retail intelligence at market research firm Synovate, said: "We expect the first week of the sales to be the busiest week of the whole year, with Tuesday the busiest shopping day."
The New West End Company, which represents retailers on London's Oxford Street, Bond Street and Regent Street, said it expected figures to reveal a five to 10 per cent spending increase on 2010.
