comScore have already released their desktop E-commerce spend figures for both Black Friday and Cyber Monday and they show increases of 25.6% and 17.5% over last year.
The M-commerce (smartphone & tablet) figures are still to come from comScore but we previously estimated they would reach $400 million this year which at an increase over last year of some 29% may be conservative!
Over here Giles Longhurst, general manager consumer insight at Experian, said: “Black Friday exceeded expectations for retailers, seeing a record breaking 180m website visits and an approximate £810m spent online in a 24 hour period.
This 60pc year-on-year increase in visit numbers to retail websites clearly shows that both British shoppers and British retailers have fully embraced the Black Friday trend. With such a massive amount of money and time being spent online, shoppers have really begun the Christmas retail season with a bang.”
So doing a little arithmetic we reckon the US Black Friday figure including our estimated M-commerce spend ($400) comes in at $1,905.
The UK figure of £810 at an exchange rate of $1.567 = £1 comes out at $1.27 billion which our calculator reckons represents 66.66% of the US figure.
To get another perspective on this if we look at the Office for National Statistics figures (non seasonally adjusted). The WEEKLY December 2013 figure was estimated to be £960.2 million. We calculate that the average increase this year through October is around 12% so if December also increases at this rate we could be looking at a figure of £1.1 billion or $1.7 billion or just under $0.25 a day.
This would, sort of, indicate that Black Friday was 5X the average daily figure. Hmmmmmmmmmm
Lies, damned lies & ……………. Comes to mind.
Subjectively we think the ONS figures are under scoped but possibly not to the extent being indicated