With the Black Friday sales period already underway, e-commerce businesses and those in retail up and down the country are assessing the impact it is having on their business and deciding on the offers they put in place in response.
Data from statistica shows that Brits spent a total of £8.71 billion in 2022 on Black Friday and whilst this year will be a significant sales period, there are signs that the curve has started to flatten.
Data from Google Trends and Glimpse show that there are significant peaks for Black Friday searches on Black Friday (as expected) but the data suggests that after the peak of 2019, there has been a consistent dip in search volume over the previous 3 years with the projections for 2023 showing another drop.
Whilst current economic conditions specifically in the UK may mean people are more price sensitive and thus more open to deals on Black Friday, the increasing pressure to save money and reduce waste means second hand stores like vinted have seen a 31% increase in search volume vs 2021. Data from PwC suggests that only 20% of shoppers expect to shop on Black Friday, with only 17% expecting a deal on the day.
This all points to an increasing weariness around the sale period, however the data does suggest that there will still be a big surge in demand and it still does account for a considerable amount of sales for many e-commerce stores.
The data shows us that searches for the term ‘WMS’ tend to peak after the sales period in the new year, with many coming out of the season looking for a change and improvement in the way they manage their stock during the quieter periods of the year.
As Black Friday draws near and we anticipate the heightened activity of the holiday season, if you are looking to extend your seasonal warehouse management capabilities, then get in touch with a member of the OrderFlow team.
enquiries@orderflow-wms.co.uk
+44 (0)1249 750564
