LONDON, November 17, 2014 /PRNewswire/ --
- Almost three quarters of UK consumers have heard of Black Friday, with nearly one quarter participating in the one day sales extravaganza
- The majority of UK consumers will make online Christmas purchases on, or around, Cyber Monday
- One third (34%) of shoppers feel that retailer promotions do influence their Christmas purchase decisions
This year's Black Friday could be the busiest and most successful to date after insight from Voice of the Customer specialists eDigitalResearch and Global Consumer Knowledge Centre IORMA revealed that a staggering 72% of consumers have heard of the shopping term Black Friday.
Black Friday - a retail venture started in the US - was first bought to the UK in 2010 by online giant Amazon. Falling on the Friday after Thanksgiving, it's an opportunity for retailers to entice shoppers online or in-store and kick start the Christmas shopping season.
Black Friday has gained significant traction in the UK over the past couple of years, with high street names such as John Lewis and Shop Direct participating in the event last year. The results from eDigitalResearch and IORMA reveal that this isn't just a scheme undertaken by retailers - it has real prominence with consumers too. Almost one quarter (22%) of the 1,000 UK consumers asked had bought something on Black Friday in the past. With knowledge of the day ever increasing amongst UK consumers, the 2014 event could become the busiest and most successful Black Friday yet, with a whole host of additional retailers also looking to invest in the discount day.
When asked if retailer promotions ever influence their online Christmas purchases, over a third (35%) said that they've been encouraged to buy particular items due to offers and deals in the past.
Chris Russell, Joint CEO at eDigitalResearch and IORMA Board Advisor, comments, "Up until a few years ago, very few of us had even heard of the term Black Friday. Now, almost three quarters of UK consumers know what the term is - although there is still understandably confusion for some - with many actively anticipating the day to arrive. The challenge for retailers will be capitalise on the opportunity as more and more shoppers look to grab a bargain. The entire retail experience and customer journey - from marketing to logistics - needs to be exceptional, especially as more of the market look to cash in on Black Friday".
In comparison, just under half (45%) of those surveyed had heard of the term Cyber Monday. Cyber Monday - which falls on the 1st December this year - is the day that retailers traditionally see a spike in online orders. Around 1 in 3 (30%) of consumers expect to make the majority of their Christmas purchases this year on, or around, Cyber Monday, marking the need for retailers to brace themselves for an onslaught of site visitors and online orders.
John Andrews, Chairman and CEO of IORMA commented, that, "The views expressed by UK Consumers in this research clearly illustrate that what was once a traditional event originating in one country can very quickly now migrate in the global online borderless world, to markets in other countries. In this instance what was originally a US Thanksgiving holiday related shopping event has now become recognised in the UK too, and appreciated by UK Consumers and UK Retailers alike.
Other similar occasions such as China's online retail giant Alibaba Singles' Day look set to further this trend, with Alibaba stating that it has achieved $9.3bn (£5.9bn) in sales from its annual Singles' Day shopping event for Chinese consumers alone. It generated 278 million orders - 43% of which were placed on mobile devices. It is the world's biggest online retail sales day."
Notes to editors
Research was conducted between 5th - 8th November 2014 via an online panel using a nationally representative sample. 1,001 responses were collected in total.
About eDigitalResearch
eDigitalResearch help businesses grow by providing bespoke Voice of the Customer feedback programmes designed by passionate researchers, technical specialists and graphic designers all under one roof. We work closely with clients to deliver a range of insight solutions including real-time Customer Experience Management, multichannel 'in the moment' Voice of the Customer feedback, as well as flexible insight and technology partnership options.
About IORMA
IORMA's Global Consumer Knowledge Centre provides powerful knowledge, insights and innovation into what is happening in important markets - both developed and developing.
IORMA's services benefit businesses, organisations, government and academia in understanding the rapid changes in the whole value chain of the sale of products and services to consumers throughout the world. Retail is now seamless across online, mobile, TV and physical shops and it is happening globally. IORMA too is integrated across retail channels, and global in its outlook and expertise.
IORMA is managed by a highly driven team with extensive industry experience.
For more information, please contact Liana Vickery on liana.vickery@edigitalresearch.com or by calling +44(0)1489-772920.
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