The busiest time for Christmas shopping this week

Last minute Christmas shoppers are expected to spend $4.8 billion on December 23, new data from NAB reveals.

Friday is expected to be the busiest day of the holiday period, with spending predicted to be 15 per cent higher than on the same day last year.

NAB Everyday Banking Experience Executive Kylie Young says lunchtime will be the busiest period on the day, with more than $400 million expected to be spent between midday and 1pm.

Press PLAY below to hear when the shops are expected to be busiest

“About 80 per cent of transactions are likely to be in those bricks and mortar stores in that final run up to Christmas,” Ms Young told Jacqui Felgate and Jimmy Bartel, filling in for Ross and Russel.