Global online retail analysis reveals rise in UK spending while US shoppers migrate to cyber Monday
IFM Correspondent
November 24, 2016: The UK is set for higher online Black Friday retail spending growth than the US, according to new data from Ingenico ePayments, the online and mobile division of Ingenico Group.
Ingenico ePayments’ global analysis of online retail growth from last year reveals that the estimated total amount spent online in the UK rose by 273% on Black Friday, compared to the average Friday. Enthusiasm in the United States was markedly low in comparison, with online spending only 137% higher than the average Friday that year.
Overall, the UK now spends more online per capita than the US, according to the Centre for Retail Research, and this trend is reflected on Black Friday, with UK spending growth almost double that of its transatlantic counterpart.
Besides the UK’s huge 24-hour Black Friday spike, online retail spending value was still high between Black Friday and December 31, but only 53% higher compared to the rest of 2015 – significantly lower than on Black Friday itself.
“We’ve witnessed first-hand the Black Friday migration from bricks and mortar to online, and now the momentum is shifting from the US to the UK,” said David Jimenez, Chief Revenue Officer at Ingenico ePayments. “This year, we expect to see online spending peaks on Black Friday in the UK, Cyber Monday in the US and we’ve already seen the Singles Day boom across China.”
The UK Black Friday online spending spike of 273% was mirrored across Europe, where the average rise in total value spent was 275%, as shoppers across the continent also leaped at the chance of Black Friday discounts:
— Germany, France and Italy saw online total spending surge more than 215%.
— Spain and Denmark registered particularly strong performances with total transaction value rising over 690% compared to the average Friday
— US neighbour Canada saw an impressive 580% rise in total spend
US online shoppers have instead been shopping in far greater numbers on Cyber Monday, where sales volumes last year were 60%higher than Black Friday sales. This became the biggest ecommerce day in US history, as online sales tipped over the $3 billion mark.
Momentum also appears to be building in South America; eMarketer’s research revealed that Black Friday ecommerce sales were up 38% in Brazil, South America’s largest ecommerce market; and that Cyber Monday rose even faster, by 56% compared to 2014.
Across Asia and Australasia, Black Friday is overshadowed by Singles Day, now the world’s largest shopping day, exceeding the global sales of Black Friday and Cyber Monday combined. This year’s Alibaba-led event generated more than 121bn yuan (£14bn), a rise of 32% on last year’s sales, according to the Chinese company.