With Black Friday on the way during our second lockdown, online retail sales are expected to leap by more than a third during the peak trading period.
Online sales are forecasted to grow by between 35 and 45 per cent between 23 and 30 November, according to online retail industry association IMRG. And, so far this year, online retail has grown by 34.9 per cent, compared to a growth of just 6.7 per cent in 2019.
Despite this, there is still a slight chance that Black Friday online spend doesn’t reach the predicted levels.
“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,” said Andy Mulcahy, Strategy and Insight Director at IMRG. “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 per cent.”