Shoppers set to spend £393million in Milton Keynes this month

MK shoppers will be spend millions by the end of the month. Credit: VisMedia
MK shoppers will be spend millions by the end of the month. Credit: VisMedia
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MILTON Keynes shoppers are forecast to spend a whopping £393million during December.

Across The UK consumers are expected to spend £17,540 per second, a four per cent increase from December 2010, according to research carried out by number-crunchers at Barclays.

The bankers say Milton Keynes consumers will use their debit cards for the bulk of their shopping, with a record £240 million expected to be spent on cards during December. The busiest day for spending across the UK is predicted to be Friday December 23.

Supermarkets are forecast to pocket £52 million of the MK spending, followed by £12 million at petrol stations and £7 million at department stores. Online shopping accounts for more than a quarter of this debit card spend.

A total of £153 million of cash is expected to be withdrawn from Milton Keynes’ ATMs and banks throughout December. The peak time for withdrawals is forecast to be between 11am and 2pm on Friday.

Dan Wass, director of current accounts at Barclays said: “It’s been a difficult year for consumers whose household budgets have been squeezed to cope with rising costs, but we are expecting shoppers to shun the doom and gloom and spend record levels as retailers make massive reductions to entice them in. 

“Whether you have a Christmas spending strategy or are more of an impulse festive shopper in search of a bargain, using a debit card is the easiest way to get your Christmas shopping done quickly and securely. We urge shoppers to stay safe in busy areas and encourage them to use their debit cards rather than carrying large amounts of cash. We would remind them to be careful to take care of their card and their PIN during the busy festive period.”