A predicted £20 billion Black Friday spending spree is helping to save retailers from a sales-dip in October.
That is according to e-commerce firm Salmon, whose Global Head of Consultancy and Innovation, Hugh Fletcher, spoke out after the release of retail sales data from the Office of National Statistics.
He said:
“What is encouraging for many online retailers is the marked increase in year-on-year online sales values, up 10.7 percent.
As more consumers look to grab the best deals online – particularly around Black Friday week – it’s imperative companies have their systems and operations in place ready for a busy November period.
Based on our own figures, we believe this month’s online sales will hit £20bn as retailers look to cash in on a consumer hunger to spend more now than potentially even Christmas. Certainly, November will provide some welcome relief for many retailers struggling from a more below-par October.”