Consumers are set to splash out nearly £2.8 billion on last-minute presents and food in the final two days before Christmas.

Tomorrow – dubbed 'Manic Monday' – will see around 16 million shoppers online and in-store splurge £1.46 billion in what is expected to be one of the busiest shopping days of the year.

On Christmas Eve, 14 million Britons will spend £1.31 billion, taking the total over the two days to £2.77 billion – up from £2.5 billion last year, according to savings website Vouchercodes. In total, £13.39 billion will have been spent in the nine days to Christmas Day – £8.29 billion of it offline.

Industry insiders said that spending in the run-up to Christmas had been helped by many offices closing on Friday. 'A lot of people are leaving their shopping later this year,' said Anita Naik, the website's savings expert. 'But signs are they are making up for it now.'

Food shopping rather than expensive presents has driven the surge, as big family get-togethers become a priority after the doom-and-gloom years of Covid.

Jamie Cuthbert, spokesman for Vouchercodes, added: 'Inflation has stabilised and left shoppers feeling more upbeat.

'In previous years there was Covid followed immediately by the cost-of-living crisis. Spending on food and drink will now take priority, as will holiday travel.'

David Jinks, head of consumer research at the delivery comparison website ParcelHero, said some retailers were even accepting orders as late as December 24 for those who had left everything to the last minute. 'Amazon, Argos and a number of other stores are taking same-day orders on Christmas Eve – for a price,' he added.

However, industry analysts have warned that this could be the last hurrah before the full effects of Rachel Reeves's Budget kick in.

Optimism about the UK economy has plummeted following Labour's tax hikes and a summer of talking Britain's finances down.

Retail analyst Richard Hyman said: 'Let's be clear: the Budget has hit people and many are setting themselves up for a rough year ahead. Inflation will tick higher again and with taxes rising there will be a lot less money to spend.'

Data last week showed sales were weaker than expected last month despite Black Friday price cuts.