In Business News, Merchant Loan News, Small Business

It’s been an incredible weekend for online sales – the biggest yet with sales still to come in online today (Monday 30th November 2015).  As we are writing this piece sales are up a third to £900 million with a forecast to go way past this figure it’s fair to say that online has certainly stole the show from retail spending.

Retail figures have been down from last year but that may because the stores have spread their offers over the week rather than a strict 24 hour period.  Coupled with the recent terror attacks in Paris it’s also fair to say that people may have opted to stay away from the crowded streets and shop from their comfort and safety of home.

Online Black Friday and Cyber Monday steals show from Retail

Diane Wehrle, marketing and insights director at Springboard quotes “The volume of activity in retail stores over the Friday and Saturday of the Black Friday weekend is lower than last year and the evidence clearly points to the fact that much of this is due to a significant increase in shoppers using online to participate in the event,”

Early online indications from Experian group are showing that the UK may have spent over a £1 billion on Black Friday – the most spent online in the UK in history.  The online giant retailer Amazon announced that 86 items per second were being sold on its website on Black Friday with a total of 74 million items in it’s 24 hour period.

Cyber Monday sales are expected to reach £940 billion – we’ll be back with more final figures later on this week.