Monday, December 11, 2017

Cyber Monday expected to see £1.1 billion spend

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Cyber Monday is expected to generate £1.1 billion today, marking the end of the nationwide four-day discount event.

An estimated 15 million shoppers will flock online in the UK today, searching for the latest bargains from retailers.

The Black Friday weekend has seen a significant movement online this year, as retailers spread the discounts over two weeks, removing the reliance on the traditional 24-hour black Friday and Cyber Monday events.

Shoppers are predicted to rise by 15 per cent on last year, with a spend of £5.8 billion across the extended shopping weekend according to research from VoucherCodes.co.uk and the Centre for Retail Research (CRR).

READ MORE: Black Friday & Cyber Monday set to stay with popularity surge this year

In what has been predicted as the last blowout before inflation takes its toll on the retail sector, spend on Black Friday was expected to beat all previous records with 14 million shoppers dishing out £1.97 billion.

This year for the first time over a half of sales were predicted to take place online, with £1 billion worth of sales to the highstreets £961 million. Early data supports the predictions of a significant online shift.

Springboard‘s latest figures support these predictions, showing a seven per cent fall in high-street footfall and a five per cent decline in shopping centres, whereas online sales rose by 25 per cent on last year. 

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