This is the season for endless shopping! The impact will be felt around the world; the shopping phenomenon of Black Friday is almost upon us and will only lead to cyber Monday which is followed by the purchase of Christmas gifts on everyone’s wish list.
What’s In the Forecast this Holiday
In Europe the heightened purchase period is bound to take place between the 7th and the 11th of this December, corresponding with the last dates to guarantee delivery before the 25th. Total sales in France and Germany on the 7th alone totaled an estimated 858 million! What used to be a single day affaire in the US has now become a weekend long sale in UK as well. Total Black Friday and Cyber Monday sales totaled GBP 3.3 billion in the UK.
However both the US and Europe combined pale in comparison to the frenzy of online spending in China during the “Singles’ Day” sales period. Originally held on the 11th of November, this sale now spans the entire week and saw sales of USD 14.3 billion in 2015.
Are Business’ Prepared?
If any of this is an indication of what is to come this holiday season, e-merchants may want to ensure they are prepared to offer quality service and ease of payment when it comes to customers checking out. With the wealth of options during this sales period, consumers won’t think twice about making their purchase elsewhere. Stay tuned for the second part of this two part series, where we will be stressing the importance of fraud protection in this busy season.