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article imageChristmas day sales to hit $690k a minute online

By James Walker     Dec 23, 2014 in Business
A new study has shown that rather than taking part in the festivities or helping with the cooking this Christmas, many will be taking to their phones to participate in an online shopping frenzy as the sales open throughout the big day.
Christmas day is set to be Amazon UK's biggest ever day for digital books, music, TV, film and game sales. The company expects peak order time to be 12.26 p.m., just before lunch and after all the presents have been unwrapped. Christopher North, Amazon.co.uk's managing director, said "Christmas Day is our biggest day of the year for downloads of books, apps, music, films and TV shows as people look to enjoy the new devices they have received on Christmas morning." Christmas Day sales have grown by 500 percent in the past five years on the site.
In the UK alone, Britons will spend $689,000 (£441,000) a minute on goods on Christmas Day itself, according to e-retail association IMRG and Experian.
This equates to a total spend of $993 million (£636 million) during the day. Boxing day, December 26th, is expected to be even more popular with shoppers, potentially seeing £519,000 worth of transactions each minute.
It will be a similar story elsewhere in the world and across all branches of retail. Home ware at stores like Ikea, entertainment and electronic devices at computer stores and supermarkets will remain the top contenders across much of the globe while eastern sites are expecting to see a typical rush for cell phones, dresses and cosmetics online. Everywhere, the urge to shop on Christmas day is only going up though, indicating that some wish to keep acquiring new things just hours after being gifted them by friends and family.
The last few months of the year are always the biggest for retailers worldwide. Entire populations rush to buy each other high-value products before stopping to get themselves a little or large something.
Black Friday this year has already set records in the UK with e-retail sales at £810 million and Christmas Day and Boxing Day purchases should put this figure well above £2.5 billion worth of transactions between the last week of November and the end of December.
More about Shopping, Christmas, Day, Sales, Consumer