As the dust begins to settle after Black Friday it’s time for retail marketers to start analysing what happened and why.
As predicted Black Friday has once again proven to be a major draw for UK consumers with, according to data from the Experian-IMRG index, a record-breaking £1.1billion estimated to have been spent in the 24-hour period.
This amounts to a 36% year-on-year increase in spend and shows that these dates are likely to continue to be a permanent fixture in the online retail calendar in the UK, despite the lower than expected footfall physical stores.
Consumers now see online shopping as a leisure activity, with pre-Christmas discount retail events such as Black Friday driven by this. What’s more there is growing evidence that due to the shift to online the discounts are now and will be in the future less likely to be restricted to single days and more likely to be stretched out over a longer periods of time.
Cyber Monday for instance has to some extent been absorbed and is now arguably indistinguishable from Black Friday. When you consider that Cyber Monday was originally supposed to be the digital version of Black Friday it just further shows how consumer behaviour has changed.
Retailers and delivery networks should prepare for increasing interest in the coming weeks too, with Cyber Monday racking up an expected £943 million in sales (a 31% year-on-year increase) .
Also on the horizon is Manic Monday – which has previously been viewed by consumers as the last chance to order goods online and ensure pre-Christmas delivery. This year we are expecting £733m to be spent on this day, up 10% year-on-year.
In addition, retailers with bricks and mortar stores should also consider preparing for the post-Christmas sales rush, which Experian has found is more likely to be attractive to consumers who prefer shopping in-store.
Keep your eye on this blog or follow us on Twitter (@ExperianMkt_UK) for the latest stats and results from the key festive dates.
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