Salmon’s £1bn Black Friday Prediction hits the mark!
IMRG and Experian data revealed a total spend of £1.1bn on Black Friday, confirming Salmon’s, a Wunderman Commerce Company, prediction that this year would prove to be the UK’s first £1bn+ online shopping day.
The result is testament to British retailers’ preparedness for this peak trading period. Many pushed out deals early to build momentum and help level out volume surges over a wider period of time, reducing strain on infrastructure and fulfilment teams and allowing retailers to check systems were up and running smoothly in advance. In fact, with this planned activity encouraging shoppers to spend ahead of Black Friday, the £1.1 result is even more impressive as consumers continued to buy generously on the day.
Consumers have become more savvy too. Our own data revealed a significant increase (+77%) in conversion rates, indicating that shoppers knew what they wanted, sourced it and made quick purchases. Moreover, the majority shopped online and early, with a general decline in average selling prices throughout the day indicating that many of the big ticket bargains were swooped up promptly, with consumers buying less valuable items throughout the day.
This year’s success emphasised that Black Friday is firmly in the psyche of UK shoppers and looking ahead, retailers now face pressure to better understand how to manage this huge surge in demand in a smooth and profitable way. While still an unpredictable event, having a peak operations strategy in place is now proven as essential for helping retailers cope with what will become an increasingly important event on the British calendar.