Britain’s biggest and most well-known retailers have started ‘mega sales’ early this year in an attempt to boost Christmas shopping among cash strapped shoppers, reports social shopping search engine Shopow.
In the run up to Black Friday, Amazon is offering bargains for its ‘Black Friday Deals Week’ and Comet is offering a ‘5 Day Frenzy’ sale.
In the run up to Christmas consumers are expected to spend £7.75bn on online shopping, according to e-tailing trade association IMRG.
An estimated £13bn will be spent across all sectors online. However, figures on the high street are expected to fall by 2.1% in spite of so many sales starting early. It is clear this year’s success stories will be told with a distinctly online lilt, said Shopow.
Kevin Flood, CEO at Shopow, said: “Retailers were desperately in need of a reversal of their fortunes have found they now have an encouraging platform on which to build in the run up to Christmas. High street stores have had to pull out all the stops to make their shops attractive by reducing prices early and creating imaginative promotions to increase footfall and activity at the tills. It is still far from plain sailing and there is still a lot of pressure on retailers. As long as business and consumer confidence remains low, the battle will continue to persuade shoppers to return in their droves.
“Online activity has emerged as a vital area that will only continue to grow in importance over Christmas. We are expecting a significant amount of Christmas activity online and those who have introduced innovative shopping tools that make shopping easier and cost effective will capitalise.”
Social shopping has emerged as an exciting trend in online retailing as many high street stores look to engage consumers, claims Shopow. It involves the use of social networking to share recommendations, share discounts, post reviews and ask for advice on products before purchase.
Mike Harty,COO of Shopow, said: “Regular web shoppers are now empowered to talk about their purchases in an honest way. Social shopping with Shopow enables shoppers to use their trusted networks to make informed decisions but also makes online shopping more interactive and enjoyable.”