Online retailers set for coronavirus powered blockbuster Black Friday
UK online retail sales are set for growth of 35-45% during the Black Friday peak, according to IMRG.
With the coronavirus outbreak causing non-essential physical stores to be closed for long stretches of 2020, growth for the year so far (January-October) is up 34.9%, whereas for 2019 as a whole it was 6.7%.
IMRG is tracking 320 retail sites to see when their Black Friday campaigns go live. This year there has been a trend for them launching earlier, with 4.3% of them up and running on 4th November, while for the same day in 2019 only 2.3% were.
Also of interest: Brand experts predict course of Black Friday 2020
Andy Mulcahy, Strategy and Insight Director at IMRG, says: “We were anticipating a huge surge online this peak, and circumstances have conspired to ensure that is the case; the stores are closed, furlough has been extended and shoppers are being advised to get the bulk of their Christmas shopping done before December.”
“There is a possibility that could mean people buy spend more in the early weeks of November, pulling some of the volume away from the Black Friday week. That seems the only realistic reason why the online spend for that period could come in lower than +35%.”
Justin Opie, Managing Director at IMRG, adds: “This does not feel like a temporary development; further evidence is no longer required that this is a permanent shift.”
“Retailers, including those with stores, with strong online propositions, will continue to trade well. Those without, for whom it’s not already too late, must adapt now if they are to survive.”
