The £150-million barrier could be broken this year on Christmas Day for the first time as savvy shoppers look to grab early bargains from sales at online retail websites

The £150-million barrier could be broken this year on Christmas Day for the first time as savvy shoppers look to grab early bargains from sales at online retail websites

IMRG has estimated that around £153m could be spent on the day.

The fourth quarter of 2010 saw impressive growth already with an average year-on-year increase of 22.5% recorded for October and November.

Payments boom follows online

This figure has been backed up by analysis from payments company Visa Europe, which has estimated that 960,000 transactions worth £36m will be made on Visa cards alone on Christmas Day. Visa transactions account for over £1 in every £4 spent.

In spite of the impact of the recent inclement weather conditions on deliveries, the trade body said online would still perform well over the festive holiday, as the value and convenience provided by the online shopping experience are expected to overturn any uncertainty felt by consumers in the run-up to Christmas. The VAT increase is also expected to generate a surge of activity for big-ticket purchases.