Shopify, the leading global commerce company, has published the findings of survey detailing buyer attitudes towards this year’s Black Friday and Cyber Monday (BFCM). The research suggests that on average shoppers will spend 53% more this year than in 2019 with nearly half (47%) of UK consumers planning to take advantage of the deals.
Following the new lockdown restrictions in England announced this weekend, the majority of retailers are gearing up for an online-only event this year for the first time ever. Many have embraced a multichannel approach to retailing already this year with online shopping as a proportion of total sales reaching a record 32.8% in May during the peak of lockdown, according to ONS.
According to Shopify’s survey, shoppers are planning to increase spending this Black Friday Cyber Monday weekend from £245 in 2019 to a predicted £376 this year. Spending will also be driven by the younger generations with 62% of 18-34-year-olds planning to participate vs 31% of those 55 and over.
For the last three years, mobile purchases have outstripped desktop on Shopify stores, a trend which is set to continue this year. Shopify’s shopper survey also reveals that three in five (59%) online BFCM shoppers aged 18-34 plan to make purchases using their phones with 38% of those aged 35-54 also planning to use their mobile devices.
Shimona Metha, head of EMEA at Shopify, said: “This year’s Black Friday Cyber Monday will be like none we’ve experienced before. Unlike previous years, we are expecting the event to be spread across a much longer period of time rather than just a weekend, with deals already starting to appear and likely to extend through to Christmas”.
“Over the last few months, we’ve seen an acceleration of trends that were already in train. 2030 has effectively arrived early. The shift towards multi-channel retailing was already underway but the pandemic has meant that retailers have had to adapt much more quickly”.
“Agility and flexibility are key to successfully growing any business and that has never been as important as it is now. Being able to respond quickly to changing behaviours means you’re better placed to stay relevant to an evolving marketplace. Despite the disruption and uncertainty we have seen this year, our survey suggests that there is still demand for Black Friday deals with average spend over the weekend predicted to be over £100 more than we say in 2019.This reflects what we’ve been hearing from merchants”.
“With retailers facing fresh disruption to their store operations, those who have already embraced a digital first strategy will be best placed to thrive on the biggest shopping weekend of the year. The COVID-19 pandemic has demonstrated the need for merchants not to become dependent on one single channel. As we head into another lockdown, e-commerce will once again provide a lifeline for many businesses.”