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December 20, 2013

Barclays forecasts record Christmas card spending

UK bank Barclays has predicted the coming festive season will see £31.9bn spent on debit cards and £14.9bn worth of cash withdrawn from ATMs.

By Isabella Grotto

UK bank Barclays has predicted the coming festive season will see £31.9bn spent on debit cards and £14.9bn worth of cash withdrawn from ATMs.

In total, Barclays has predicted a total of £47bn will be spent on debit cards in December 2013.

With £1m predicted to be withdrawn, the Friday before Christmas is set to be the busiest day for ATM withdrawals, according to the bank.

On the day, between 12pm and 1pm will be the peak time for cash withdrawals, with £27,000 being taken out each second.

So far 2013’s Christmas season has brought a 2.8% increase in consumer spending since 2012, with 31% of adults (over 15m) planning to shop on Saturday, spending an average of £196 each.

According to the bank, supermarkets in particular will receive over £5.6bn, with a further £1.4 bn being spent on clothing and £740m at department stores.

The catering sector will also see an increase in incomes, with 890m predicted to be spent at restaurants.

 

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