£6 BILLION to be Spent on Black Friday 2020
According to a new study carried out by shopping comparison site finder.com, UK consumers look set to spend at least £6 BILLION on Black Friday this year. This represents an increase of £400 million on the £5.6 billion figure recorded in 2019, meaning that the average spend per person will rise by £45 to £296 (an 18% rise on last year's figure of £251). Is YOUR ecommerce business ready to claim its slice of the pie?
The survey revealed that 20.3 million people expect to make at least one purchase on Black Friday, which falls on November 27th this year. However, 16.3 million people said they were 'undecided' at the time of the survey, meaning that the overall figure could potentially increase to over 36 million. Ultimately, 94% of people plan to make online purchases during the holiday period.
Commenting on the results of the survey, shopping expert at finder.com Georgia-Rose Johnson said: "Many have experienced great financial difficulty this year, but some people are actually better off as a result of not having to commute and a lower spend on socialising. For these people, the weekend of sales could be an opportunity for some retail therapy."
Another survey, carried out by Deloitte, found that 51% of shoppers feel 'anxious' about instore shopping due to the coronavirus pandemic. These people expected to spend at least 64% of their entire holiday shopping budget online.
The 'Golden Quarter' leading up to Christmas is likely to be much more difficult for brick-and-mortar retailers who are reliant on revenues garnered instore. Richard Lim, the chief executive of Retail Economics, said: "The unfortunate reality is that many consumers will shun the high street in favour of online to avoid crowded shopping destinations and the frustrations that will come about from restrictive measures such as limiting shopper numbers."
With more people shopping online than ever before this Christmas, it is absolutely essential that ecommerce websites are ready and able to deal with the influx. Whatever type of business you own, Brickweb can make sure that it has a leading edge among your competitors by providing you with a comprehensive suite of services including website design, internet marketing, SEO optimisation and social media management.