Back to all articles

Black Friday is set to hit £1 billion

27th November is Black Friday and UK consumers are expected to spend over £1 billion on online shopping.  According to IMRG an expected 32% increase on 2014 Black Friday.

Consumers are now looking for those extra bargins and Experian and IMRG are predicted that the other key Christmas shopping dates will hit record totals:

  • Black Friday, 27 Nov, is estimated to reach £1.07bn, up 32% on 2014
  • Cyber Monday, 30 Nov, is estimated to reach £943m up 31% on 2014
  • Manic Monday, 7 Dec, is estimated to reach £733m up 10% on 2014
  • Christmas Day, 25 Dec, is estimated to reach £728m up 11% on 2014
  • Boxing Day, 26 Dec, is estimated to reach £856m up 22% on 2014
  • New Year’s day, 1 Jan, is estimated to reach £638m up 33% on 2014

James Miller, Senior Retail Consultant at Experian Marketing Services, said that the record sales will be down to consumer awareness.

“With consumers now expecting great bargains and trouble-free service, retailers must ensure that they have planned their marketing strategies and logistics around these key dates, with carefully prepared cross-channel campaigns, engaging the right customers, via the right media,” he said.

“The different types of customer driving the pre- and post- Christmas sales rush must also be taken into account,” observed Miller. “Retailers should be aware of the strain that will be placed on delivery networks in the run up to Christmas, and also provide a good level of in-store support for the Boxing Day and New Year’s Day rush.”

Many retailers may lose out

Despite the opportunity of Black Friday, recent research by business data specialist Tableau suggests that almost a quarter (24%) of UK retail businesses are not harnessing data effectively enough to take advantage of the opportunities over the Christmas period.

Retailers that are analysing their data effectively, meanwhile, are three-times more confident that they will have a successful Black Friday than those that are not.

“The impact of Black Friday for both consumers and retailers cannot be underestimated. But it is such a small window it’s critical to make accurate, quick decisions,” observed James Eiloart, Tableau’s Vice President for Europe, Middle East, and Africa. “The research revealed one clear insight: retailers that do not harness data are missing a real opportunity to optimise profits from Black Friday.”

 

Press Release issued from http://www.imrg.org/

Join the conversation

×