Online retailers are prepared for the busiest-ever Black Friday event, with £2.8 million predicted to be spent every minute over the weekend.
The discount shopping bonanza kicks off today, although a number of companies have been running promotions throughout the month. A surge in online sales is forecast, as people flock to buy online while much of the high street remains closed due to lockdown restrictions.
According to the VoucherCodes.co.uk’s ‘Shopping for Christmas 2020 report’, carried out by the Centre for Retail Research, UK consumers are set to spend a total of £7.5 billion over the Black Friday weekend – a 12.4% drop on 2019 due to store closures.
But online sales are forecast to increase by almost £2 billion, rising 52.9% to £5.8 billion this year.
Online spending is predicted to peak on Black Friday itself when £1.34m will be spent every minute.
A number of companies told the Standard there were expecting their busiest ever Black Friday.
Vodafone said: “This year, we’ve gone bigger on our Black Friday deals, so we do anticipate it being our busiest yet.”
Online electricals retailer AO World is expecting to more than double the amount of TVs it sells during the Black Friday event compared to last year, as shoppers binge watch shows during lockdown.
Earlier this morning website TopCashback said that shoppers looked to have been flocking to make purchases from a number of retailers including Currys PC World and ASOS.