Online sales are expected to reach up to £605m today (December 2) as consumers get ready for the festive retail rush.
According to research from technology solutions company Hitachi Consulting UK, etail sales are expected to top £605m, an increase of 16% against last year, as six million shoppers take part in the spending spree on Cyber Monday.
Chris Gates, director of retail at Hitachi Consulting UK, said: “This year, more retailers than ever have launched exclusive offers for Cyber Monday – the busiest online shopping day of the year. Retailers are getting ready for the bow-wave of people hitting their stores over the next few days to collect all the orders placed on Black Friday.”
He added: “In order to optimise opportunities on the sky-high demand of customers for timely deliveries in the run-up to Christmas, retailers need to ensure that they have systems in place to deal with this in a timely manner. “
Digital solutions company Venda predicts Cyber Monday will also spark a 28% increase in online spending for the next two weeks in the build-up to Christmas.
According to data from Venda’s platform that serves retailers including F&F Clothing at Tesco, Fat Face, BooHoo, Urban Outfitters and Laura Ashley, figures show that daily online spending is already up by 54% and retail traffic has also risen by 63% year-on-year in the run-up to this year’s cyber spending spree.
Spending on tablet devices has doubled year-on-year in the run-up to Cyber Monday. Tablets now account for 23% of all pre-Christmas online spending, which is up by 12% compared with last year.
Eric Abensur, group chief executive of Venda, said: “Retailers that are already planning for the entire Christmas period, rather than just the ‘Cyber Weekend’, may already be getting an early Christmas present – with online sales in the run-up to the holidays due to break recent records. Whether this increased online spending will affect sales this weekend or translate into more high street shopping remains to be seen.”