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Did Black Friday 2016 Live up to Expectations?

There was extremely high expectations in the days coming up to Black Friday and it was expected that Black Friday 2016 would break many records including the highest amount of sales on Black Friday. However, the real question is did Black Friday meet the expected figures and statistics? In this report, I will be reviewing the statistics and figures of Black Friday 2016.

Did Black Friday 2016 Live up to Expectations?

Online

During Black Friday, there was a substantial focus on the deals which were being offered online. This shows that many retailers focused on promoting their products online due to the larger audience and the increase in popularity of Online Shopping. There was a very high traffic of customers during Black Friday with “Very” which is an online retailer, selling 15 consoles per minute. Customers were buying early Christmas presents as 21 bottles of Perfume were bought per minute. The excitement levels were high for Black Friday as PC World reported that they had over 500,000 visitors to their website before 6am. It seemed that customers were buying their products earlier as Argos received 700,000 visitors between 8am and 9am.

Online Spending reached £1.23 billion on Black Friday alone which was a 12.2% increase on 2015. However, even though the Online sales were higher than 2015, the figure was still disappointing as it was short of the £1.27 billion which was forecasted. It was forecasted that Black Friday Online sales would have a 16% increase on 2015 but the real sales figure fell 3.8% short. The total number of Online Sales over the Black Friday week reached £6.45 billion which was short of the forecasted £6.77 billion. One of the main reasons for the disappointing figures of Online Sales is due to the amount of Online visitors increasing but less visitors were actually purchasing products. This suggests that customers were not pleased with the promotions on offer. This suggests that Online Sales did not live up to expectations and that online retailers were not as successful as expected.

Retail

As you can see, Online Sales did not meet the expected figures which suggests that High Street stores were luring in more customers. However, the Independent states that an increase in Online Sales during the early hours of Black Friday led to stores looking quieter than previous years. This suggests that Online Shopping has overtaken sales on the High Street. Black Friday is usually a chaotic day for retailers as customers will rush to get the cheapest products. This has led to retailers having to place security measures to keep the chaos under control. It shows that the chaos has deterred customers from shopping in store on Black Friday. Shopping Centres were like ghost towns on Black Friday which is very different to the scenes of previous years where customers broke out in violence.

The suggestions that customers deterred the high streets and stayed at home to purchase their products has been backed up by statistics. Reports show that footfall on high streets has dropped by 5% from Black Friday last year. Footfall in shopping centres has also decreased by 7% from the figures which were recorded last year. It is suggested that consumers have decided to use online shopping instead of going to the high street as many people will be at work on Black Friday this is why retailers have decided to offer their Black Friday deals for the whole week. John Lewis benefited from this method as they posted their highest sales number during the Black Friday week in the history of their company. John Lewis generated a massive £199.8 million in revenue. This shows that some established retailers had success on the high streets of the UK. However, it shows that Online sales dominated the Black Friday sales this year and shows no sign of stopping. Has Online shopping become more popular than High streets and Shopping Centres?

 

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