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New data has shown that small to medium sized enterprises (SMEs) across the UK recorded impressive sales volumes on ‘Black Friday.’
Originating in the US, Black Friday has now become one of the UK’s biggest shopping days. Statistics quoted by business funding provider Capify indicate that UK online sales on Black Friday 2014 hit a staggering £810 million.
Black Friday 2015 may have been even more successful for retailers with initial estimates published by retail researcher Experian-IMRG suggesting that Black Friday 2015 may have been the biggest online shopping day in UK retail history. This prediction indicates that British consumers spent a staggering £1.1 billion online this year on Black Friday (27th November 2015); a rise of 36% on the year before.
Startups.co.uk recently reported that data from point-of-sale provider Vend shows that small to medium sized enterprises saw sales reach new heights on Black Friday 2015. They polled 1,300 UK SMEs, finding that small retailers throughout the country enjoyed average sales growth of 40%, from £650,000 to £910,000, on Friday 27th November 2015.
According to Vend, small businesses saw consumer spending climb 37% on Black Friday 2015, when compared to 2014. There was also a 13% rise in sales volume on 2015. Fashion and apparel SMEs saw average spending increase 97% on the shopping holiday – the highest rise recorded in any sector. Electronics and computer SMEs followed, seeing average spend increase 66% on Black Friday 2015.
Small businesses are making the most of Black Friday, and boosting online sales figures to their advantage. Many small businesses across the UK utilised online shopping portals on Black Friday to strengthen their revenue streams. EBay revealed that 50% of their top deals on Black Friday would be sourced from SMEs.
If you run a small business, you need to make sure that your company is prepared and able to capitalise on major online shopping events such as Black Friday. kinex provide the effective business broadband services SMEs need to tap into the UK’s increasingly profitable online shopping sector.
kinex specialise in looking after you – Britain’s small businesses. We supply all the essential services you rely on at a price you like. And one bill makes the whole thing simple. You get a reliable partner and honest personal service from a team that’s keen to help.