Black Friday is one of the biggest days of the year in the retail world, and while November 23 may seem a long way off, research finds that three-fifths of UK retailers (62%) are already planning for the big event.
According to the research by Acceleration Partners, which surveyed 416 UK online retailers about their perceptions ahead of the annual shopping event, retailers are already working on Black Friday offerings, whether that’s ensuring they have enough stock (42%) or refining their offers (39%).
When asked why they were choosing to prepare well ahead of Black Friday, 56% of respondents said they wanted to ensure they have the best offering on the market and have plenty of time to market their offers and increase awareness (44%).
Out of those that have taken part in Black Friday previously, 92% saw an increase in the number of visitors to their website and a further 71% saw an increase in sales.
However, it seems as though there were some mixed views about whether retailers prefer to have regular offers available or partake in key events throughout the year – 48% stated that they prefer to hold regular offers, while the rest of the respondents said they choose to get involved with a mix of the two (32%), or just put offers on for key events and dates (20%).
“Once an American tradition, Black Friday has really taken off in the UK over the past few years, particularly in online retail and forward planning is essential to maximise return from the event,” commented Sophie Parry-Billings, EMEA marketing manager at Acceleration Partners.
Last year, PerformanceIN reported the key stats and takeaways as the action unfolded. Awin said total sales appeared to show sales up around 20% year-on-year across the whole network, while Ve Global found that Black Friday took hold in Europe with traffic up by 121% and sales up 321%.
Will the event prove to be even more successful this time around?