Published on November 23rd, 2017 | by The GC Team0
Sales slowdown predicted for Black Friday 2017
Online sales on Black Friday are expected to be at “more subdued levels” than in previous years, and traffic is likely to tail off by Cyber Monday.
All major online retailers, including John Lewis and Argos, are holding sales over Black Friday weekend in order to drive traffic, while those such as Amazon and Carphone Warehouse will stretch the event out longer to tempt consumers into parting with their hard-earned cash.
According to ecommerce data firm PCA Predict, which works over 11,000 of the largest ecommerce retailers, sales on the day will slow to a growth range of 10-15%, compared to +31% last year.
Chris Boaz, Head of Marketing at the firm, said: “Whereas Cyber Monday used to be an event in its own right, it is now merely an extension of Black Friday weekend, and many retailers are now extending this sales period beyond the four days to drive sales in the run up to the holiday season.
“We’re unlikely to ever see the likes of 2014 again in the UK, where consumers turned out in the hundreds in-store on Black Friday. Instead, retailers will compete primarily online for consumers’ hard-earned money, and we can again expect to see consumers break the current record of eight million online purchases, while footfall continues to decrease.”
PCA Predict estimates that over 40% of sales are expected to be made on mobile devices on Black Friday itself.