Retail association IMRG forecasts increase in online sales of 35%-45% during the period.
Retailers are braced for a major increase in online sales of 35%-45% during the Black Friday trading period, according to a new forecast.
IMRG – the online retail association – is anticipating a ‘huge surge’ online during the period, which runs from November 23-30.
Tracking 320 retail sites to see when Black Friday campaigns go live, IMRG has found there is a trend for them launching earlier. On November 4, 4.3% were live, compared to 2.3% live on the same day in 2019, reported The Industry.Fashion.
“We were anticipating a huge surge online during this peak, and circumstances have conspired to ensure that is going to be the case, as stores are closed, furlough has been extended and shoppers are being advised to get the bulk of their Christmas shopping done before December,” said Andy Mulcahy, strategy and insight director at IMRG.
“There is a possibility that could mean people spend more in the early weeks of November, pulling some of the volume away from the Black Friday week. That would be the only realistic reason why the online spend for that period could come in lower than +35%.”
Justin Opie, md at IMRG, added: “This year’s huge growth rates, and the expected online bonanza the Black Friday period will deliver, underline retail’s rapid structural shift online. This does not feel like a temporary development, as 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.”
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