Online Christmas discounts drive sales

30/11/2009

Money problems for many consumers will be alleviated this Christmas by cheap internet deals on gifts, a new study has indicated.

Zavvi.com said that today (November 30th) will be the busiest day of the year for online retailers, as credit-crunched shoppers look to save money on their festive spends.

According to the report, four in five Brits will shop on the internet for Christmas.

Zavvi.com also suggested that an average of 733 online sales per minute would be registered during the busiest parts of the day.

The report comes as retailers report high festive sales, providing evidence for the view that many shoppers are taking advantage of lower VAT rates in order to buy goods and services.

Due to a temporary government policy, the sales tax stands at 15 per cent rather than its usual 17.5 per cent.

However, VAT reverts to its normal rate from January 2010.

Speaking to the Press Association, Nat Wakely, director of selling operations at John Lewis, said: "This week has been incredibly strong.

"Customers are gift buying as well as getting the home ready for Christmas."

Tags; Budgeting Advice, Young Family Finances, Retirement Money Problems, Credit Card Lifestyle, Recent Graduate Debt,

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