Brits are set to spend around £23 million per hour during the Christmas Eve rush, it has been claimed.

According to a report by Sainsbury's credit cards, approximately £555 million will be spent today, as many people purchase last-minute gifts, which could include Xmas hampers.

Up to 20 million adults in the UK are estimated to hit the shops to buy presents for friends and family.

A total of 45 per cent of men have admitted they will be flexing their wallet today (December 24th), compared with 39 per cent of women.

Stuart McKeggie, head of Sainsbury's Credit Cards remarked: "The extreme weather conditions this December have wreaked havoc with people's shopping plans which means that some of us will be dashing around the shops later than perhaps hoped."

Those who have left it until today to hit the shops may just find they are able to bag a bargain, as Mark Huggins, director of AA Financial Services, recently observed many stores have launched their sales early in a bid to entice customers through the doors.