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Christmas shoppers set to splurge on Black Friday and Cyber Monday

Shoppers are ready to ignore warnings that Brexit will hit the UK economy by shelling out a whopping £33billion on food, drinks and presents.

They are planning to spend an average of £646 each, equivalent to roughly half the average UK monthly pay, according to new figures from Nationwide.

One in five plans to spend more than £1,000. Britons will lavish an average of £117 on presents for their partner or spouse with one in 10 splashing out more than £200.

On average, we will buy 15 Christmas gifts with most going to children who will receive gifts totalling £145, Nationwide said.

Brexit bonanza 

This is another sign that Britons remain confident about their financial future in the wake of June’s referendum vote to quit the EU.

Fifty per cent off signsGETTY

More than 10 million are set to make the most of the sales

Gloomy predictions that a vote to leave could spark a recession have so far been proven wrong with the economy growing faster than expected, unemployment falling and shoppers still hitting the high street.

The latest retail sales figures for October show volumes up 7.4 per cent on a year earlier, the strongest growth since 2002, according to the Office for National Statistics.

Britons will start their shopping binge in two days’ time, with the Black Friday discount bonanza in the shops, followed by its online equivalent Cyber Monday.

Black Friday shoppers expect to spend around £227 on cut-price items, uSwitch.com said. Alex Marsh, managing director of Close Brothers Retail Finance, said: “Black Friday is set to be the biggest trading day for retailers in shops and online again this year.”

Picture shows shoppers rushing to buy cut price electrical goods at ASDA Pudsey store in Leeds hoping to get a bargain on Black Friday.
Andrew McCaren/Rossparry.co.uk

Picture shows shoppers rushing to buy cut price electrical goods at ASDA Pudsey store in Leeds hoping to get a bargain on Black Friday.

SAO PAULO, BRAZIL - NOVEMBER 28: Residents make purchases at a shop during Black Friday, on November 28, 2014 in Sao Paulo, Brazil

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