Sage Pay has released UK data predicting an increase in Black Friday transactions and transaction values from the same period last year. This is despite a turbulent retail environment following Brexit.
In response, Sage Pay CEO, Seamus Smith, said: “The data doesn’t lie and the traffic we’ve seen in terms of transactions over the past few weeks demonstrates that we’re on course for a very healthy Black-five-day period and record breaking online spending levels! This indicates that retailers aren’t yet feeling as negative an impact from Brexit as some might have thought – although this could be the calm before the storm and we might see a different picture next year. For now, at least, it’s looking positive both for the high street and online shopping environment.”
Sage Pay has made the following predictions for the 2016 five day Black Friday period, commencing this Friday 25th November, versus the same time last year:
- A 16% growth increase in online transaction value.
- A 9% growth increase in online transaction volume.
- An average transaction value exceeding £110.
- Although the focus for Black Friday has shifted to more of an online shopping event, Sage Pay still expects an increase in Face-to-Face sales for Sage Pay merchants when compared to the same trading period last year. Sage Pay anticipates a 20% growth increase for Cardholder-Present merchants over the course of the Black Five-day trading period when compared to the same trading period last year.
These predictions are based on data taken from e-commerce and MOTO transactions made via Sage Pay terminals in the lead up to Black Friday 2016 and by comparing trends to the same period last year.