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Cyber Monday shoppers 'spend £222,222 per minute'

A combination of pay day for the majority of consumers falling on the last Friday of the month and a weekend spent browsing the shops results in shoppers logging on to buy their gifts online on the subsequent Monday, a Visa Europe report has found.

All of these factors will result in consumers spending £222,222 per minute, making 4,722 transactions every 60 seconds.

Festive online shoppers 'to spend £1bn on Cyber Monday'

Brits could spend a record-breaking £1billion online today Credit: Adam Peck/PA Wire

Experts predict that this year the nation’s consumers will shed their austerity shackles in a massive buy now, pay later splurge.

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Online retailers brace for busiest day of year

Online retailers are braced for their busiest day of the year as consumers take part in the annual pre-Christmas shopping spree dubbed Cyber Monday.

Retailers are bracing themselves for a pre-Christmas online onslaught Credit: Ben Birchall/PA Archive

Recent years have seen online shopping figures consistently peaking on the first Monday in December, probably explained by most UK consumers having just received their last pay cheque before Christmas.

Visa Europe predicts £320 million will be spent on its cards alone as online transactions top 6.8 million, an increase of 21% on last year, making December 3 the busiest online shopping day in history.

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