Black Friday 2016: Online and offline sales predicted to grow on 2015
Sage Pay has projected a 16% growth increase in online transaction volumes, despite a turbulent retail environment in the wake of Brexit
Retailers are set to benefit this Black Friday weekend with significant sales increases expected on last year, according to new data from Sage Pay.
Sage Pay estimates that there will be a 16% growth increase in online transaction value and a 9% growth increase in online transaction volume, with an average sale value of more than £110.
Although recent years have seen a shift towards online shopping, an increase in offline sales is also anticipated with and 20% increase estimated for “cardholder-present merchants”.
The predictions are welcome in the face of ongoing uncertainty in the retail world after the Brexit vote.
Seamus Smith, Sage Pay CEO, said: “The data doesn’t lie and the traffic we’ve seen in terms of transactions over the past few weeks demonstrates that we’re on course for a very healthy Black-five-day period and record breaking online spending levels!
“This indicates that retailers aren’t yet feeling as negative an impact from Brexit as some might have thought – although this could be the calm before the storm and we might see a different picture next year.”
Retailers can get advice on how to prepare and what to expect from the mammoth sales weekend with our Black Friday/Cyber Monday guide.