What did we learn from Black Friday 2017 (so far)?
The Black Friday period has come and not quite gone yet, but what have we learnt so far from the busiest period in the run-up to Christmas? How has it evolved this year and what does it mean for online retail moving into 2018?Black Friday is five times bigger than an average day, but that’s only half the story
Our forecast for online retail sales growth for Black Friday (as in the day itself, as opposed to the extended period it covers) was £1.35bn, which would represent a year-on-year uplift of +9% for the day.
Should that prove to be an accurate result, it would mean that sales volumes are roughly five-times higher on Black Friday compared with an average online retail day. However, Fridays are typically not the busiest days of the week for online retail sales, so compared to the average Friday, the percentage difference is even higher.
But that’s only part of the story. Our forecast relates specifically to sales revenue and Black Friday is, by definition, a day when shoppers are geared up for making purchases that are carrying discounts, in some instances very heavy ones. So, the actual activity that goes on during Black Friday is far greater than the sales revenue uplift suggests.
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