Member Article

Brits expected to spend over £1bn online on Black Friday

UK retailers could pocket more than £1bn this Black Friday, up from £810m last year, according to data from Experian-IMRG.

The 24-hour sale period, which takes place on the Friday after Thanksgiving, would be the first time that internet sales in the UK surpass £1bn in a single day.

However, retailers are expecting to incur costs of £180m from consumers returning goods.

A report by retail intelligence company, Clear Returns, shows that UK companies could lose out as much as £130m from returned items bought during the 24-hour sale period.

Vicky Brock, founder and chief executive of Clear Returns gave a word of warning for retailers taking part in Black Friday: “What retailers must remember is a sale is only a sale when a customer decides to keep an item – and the promise of a Black Friday discount alone might not be enough to close the expectation gap and secure a ‘keep’,

“While on the surface, Black Friday is deemed to be a successful key trading day, but it’s a gloomier picture once returns are factored in.”

According to Clean Returns, by mid-December, £600m worth of stock bought around the Black Friday period will be being processed by returns system, preventing re-sale during the critical festive period.

The retail intelligence company said December 12, otherwise known as Out of Stock Sunday, is the peak for this activity.

Supermarket giant Asda has already stated it will not be taking part in Black Friday this year. Company chief executive Andy Clarke said: “Over the past two years we’ve developed an organised, well-executed plan, but this year customers have told us loud and clear that they don’t want to be held hostage to a day or two of sales.”

This was posted in Bdaily's Members' News section by Ellen Forster .