UK retail sales are expected to reach £91.12bn within the six-week period from mid-November to December.

According to the latest figures from VoucherCodes’ Shopping for Christmas Report, the estimated UK retail sales this year are the highest across European markets.

Additionally, the data found that the upcoming festive season is set to boost retail activity, with Christmas spend estimated to increase by 3.2%.

However, sales volumes are expected to reduce by 0.3% because of inflation, as consumers will be paying more for fewer products.

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The research also found that almost a tenth (9.8%) of shoppers think they are “significantly better off” than last year.

However, there is still concern around economic uncertainty, with 33% of consumers claiming to feel worse off financially than last year.

The data found that despite the increase in overall inflation, 53% of the shoppers are planning to spend the same amount as last year, and a fifth (19%) are planning to spend more than last year on their festive shopping.

Almost two-thirds (62.7%) of retail shopping is set to take place in stores, and 37.3% of consumers are planning to shop online.

The total amount spent in store is estimated to reach £57.1bn in-store and £34bn online.