As Friday 27 November approaches, Black Friday news is gradually being rolled out and many analysts are calling for UK retailers, especially small ones, to be ready for a buying bonanza as consumers become increasingly aware of the discount shopping day that begun in the US.
Indeed, RetailMeNot has claimed that online sales over the entire Black Friday and Cyber Monday weekend – 27-30 November – could top £2.2bn, with £966m on day one alone.
That said, estimates are skewed somewhat. For example, data from digital agency Salmon showed that Black Friday spending is set to smash the £1bn mark.
RetailMeNot found that Black Friday activity in Britain will mark a new milestone for Europe too, as the continent is set to cross the £1.5bn spend for the first time – even though the UK will account for two-thirds of it.
Meanwhile, £4bn in sales across Europe – the UK, France, Germany, Italy, Spain, Netherlands, and Belgium – are expected over the entire four-day period.
Outside of the UK, Germany and France will experience the largest Black Friday spending at £281m and £159m respectively. This declines significantly in other countries to £45m in Italy, £38m in Spain, £26m in the Netherlands and just £19m in Belgium.
And in the US, home of Black Friday, shoppers are set to spend £1.72bn on the big day – a 16 per cent year-on-year increase, according to the research.
“Black Friday is now a firm fixture on the UK retail calendar and retailers that were ‘knocked sideways’ by Black Friday in 2014 are making sure they are fully prepared this time round,” said Giulio Montemagno, SVP & GM of international, RetailMeNot.
“With shoppers now expecting retailers to offer Black Friday promotions, we’re finding that some retailers are delaying promotions in early November so as to capitalise upon the anticipated spike in sales on Black Friday and the start of the Christmas shopping period.
“Furthermore, after coming under fire in 2014, retailers are investing in making sure that the shopping experience doesn’t falter this year.”
Indeed, the likes of Tesco, Currys, Argos and Boots were slammed for failing to cope with demand due to high levels of traffic that resulted in site failures.
The top five ways UK retailers are preparing for Black Friday 2015 are:
1. Greater promotion of in-store ‘click and collect’ services – 86 per cent
2. Creation of dedicated Black Friday shopping pages – 84 per cent
3. Longer delivery time for Black Friday orders – 78 per cent
4. Increased capacity and website bandwidth – 78 per cent
5. More storage capacity in the distribution chain – 68 per cent
By Zen Terrelonge
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