The party says the idea has already been successful in the US and claims it could help struggling retailers by focusing shoppers' attention.

Figures suggest customers spent around £5 billion on the day in the US last year .

Labour has asked American Express, who first proposed the idea in the US, to extend the initiative to the UK.

Labour's Shadow Business Secretary, Chuka Umunna, said: "We must do more to celebrate the contribution local, small independent businesses make to our economy and encourage people to buy from them."