IMRG: Black Friday online sales expected to grow 45% this year

Figures compiled by online retail association IMRG and the Centre for Retail Research suggest e-commerce sales are recovering quickly from the all-important pre-Christmas peak period. However, IMRG warned that despite the rapid growth in online sales, shoppers could end up spending £9 billion less than last year as the nationwide lockdown hits sales.

How did consumer spending perform on Black Friday?

• While spending is moving in the right direction, the second lockdown is likely to benefit from the rebound in winds.
• The migration to online shopping may mitigate the impact of lockdown restrictions to some extent.
• IMRG expects sales during Black Friday, November 27, to be up 35-45% compared with the same period last year, suggesting e-commerce has grown 34.9% in the year to October.
• IMRG expects the shopping rush to surge online as stores close, holidays are extended and shoppers are more likely to do the bulk of their Christmas shopping before December.
• IMRG monitored 320 retail sites and found that 4.3% of Black Friday sales have already started (many of which will last for a month), while only 2.3% of retail sites started sales on November 4 last year.

Christmas Habits Change

• The Centre for Retail Research predicts that shoppers will spend £73.4 billion in the six weeks leading up to Christmas, £9.6 billion (11.6%) less than the same period last year.
• Overall, online sales will account for 49% of sales in the six weeks from November 22 to December 26, with cumulative sales rising 58% to £12.98 billion, with individual shoppers spending an average of £1,049 each.
• Offline spending is expected to fall by 37% to £22.6bn, with the remainder of retail bricks-and-mortar and pharmacy spending ensuring in-store shopping accounts for 52% of sales.

199IT.com Originally compiled from: IMRG. Please do not reprint without authorization.