Online retailers are set for another bumper Black Friday and Cyber Monday this year, with the number of online transactions expected to smash 2015 records.
According to research from PwC, sales over the weekend is due to grow by a predicted 38 per cent to £2.9 billion, while the average expected spend per British adult is £203 – nearly double that of 2015 and higher among men and younger consumers.
Meanwhile, data collated by BHS.com and market research company Viewsbank indicates that 21 per cent of people plan to spend more on Black Friday this year than they did on the event in 2015, while online nine per cent intend to spend less.
Of those that intend to spend more than last year, 38 per cent say their increased expenditure will be £100 or more.
Data from payments processor company Worldpay revealed that last year‘s sales saw a 10 per cent rise in the number of transactions processed compared to 2014 – and the firm predicted sales would continue to grow this year.
Black Friday alone was also one of the busiest days of the shopping year in 2015, with retailers experiencing a 55 per cent rise in transactions compared to that of an average day.
In addition, Ingenico ePayments predicted that UK Black Friday spending growth would again outstrip the US.
A global analysis of online retail growth from 2015 revealed that the estimated total amount spent online in the UK rose by 273 per cent on Black Friday compared to the average Friday – almost double the 137 per cent rise experienced in the US.