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BizReport : Ecommerce : November 24, 2014


Big spending forecast for UK Black Friday

Black Friday, a traditional discount day among retailers in America, will see even more British stores and online retailers join in this year to benefit from the incredible spending levels.

by Helen Leggatt

Over in the U.S., the Friday following the Thanksgiving Day holiday has been named Black Friday due to a massive increase in spending driven by deals and discounts offered by retailers. The term Black Friday derives from it being the point in the year when U.S. retailers' profits begin to rise and their accounts go into the black.

Since 2010, when Amazon introduced Black Friday to Britain, British retailers have also been promoting the shopping frenzy day and, according to figures released by Visa Europe, shoppers in the UK will spend more than £1m every three minutes on the day, the biggest shopping day ever with online transactions alone up 22% on 2013.

However, it seems Amazon is turning the one-day event into an entire week of discounts and deals as it has already started promoting Black Friday.

"Last year, Black Friday was so popular that for the very first time in our history we received orders for over four million items in one day," said Amazon's vice president of EU retail, Xavier Garambois. "This year, we are offering ten times as many deals as Black Friday Deals Week 2010. From children's toys and consoles to fine jewellery and wearable technology, Black Friday Deals Week now signals the start of Christmas shopping in the UK with millions of pounds to be saved."

Online retailers that haven't already put in place the functionality needed to service the massive uptick in sales during Black Friday and beyond, of which there are many, may well find themselves on the back foot this week.






Image via Shutterstock

Tags: Black Friday Trends, online shopping, retail, UK








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