Black Friday will be an online-first event for the first time in history and looks set to bolster the 2020 10-week “Mega Peak” period.
In September, 67 per cent of UK consumers planned to do their Black Friday shopping online. Now, with lockdown measures in England and physical retail stores restricted to the sale of essential items, that number is expected to be much higher this month.
This is according to Wunderman Thompson Commerce, the global eCommerce consultancy company, which also reported that the Black Friday period is also set to account for 43 per cent of all spending during the peak sales period.
However, the company said that 65 per cent of spend during Black Friday this year is predicted to be via Amazon – as the retail giant kicked off its Black Friday campaign early – and it looks set to dominate this year’s sales quarter.
Wunderman also reported that nearly two in five (38 per cent) consumers expect to spend less this Black Friday in general, while only 16 per cent of consumers intend to spend more.
Hugh Fletcher, Global Head of Consultancy and Innovation at Wunderman Thompson Commerce, said: “Black Friday has been and will continue to be one of the most important periods in the retail calendar. This distinctly online-first event will present many challenges – and opportunities – for brands, retailers and marketplaces with so much uncertainty in the market.
“Those businesses that have invested in their eCommerce operations properly look set to reap the biggest rewards, while those who haven’t will struggle to compete for market share in an increasingly digital shopping space.
“One of the digital natives set to profit most is, once again, Amazon. It delayed its summer Prime Day to October to kick off the 10-week sales bonanza, introduced Black Friday deals early and can offer shoppers’ convenience, reliability and diversity in its product range.
“With margins becoming thinner and the sector under duress, brands and retailers will need to ensure they are able to act quickly and deliver on customer expectations to ensure this year ends on a festive cheer.”