SME retailers urged to take advantage of Black Friday
Small and medium-sized enterprises (SMEs) operating in the retail sector are being urged to take advantage of Black Friday.
The calls come after research published by Amazon earlier this week found that only a quarter (25 per cent) of small firms were planning on participating in the popular worldwide sales event.
Black Friday – a tradition influenced by consumer trends in the US – typically sees retailers offer one-off discounts and attractive deals for a limited time only, in a bid to increase sales ahead of Christmas time.
Last year, Black Friday sales managed to inspire a 24.9 per cent surge in British consumer spending.
This year, a study carried out by comparison website GoCompare has estimated that UK consumers will spend approximately £3 billion on retail goods during Black Friday promotions.
Yet separate research from YouGov commissioned by retail giant Amazon indicates that only 25 per cent of SME retailers are currently planning on offering Black Friday discounts and deals to their customers.
Commenting on the data, Gayle Hunter, SEO of online retailer Luxelu, said: “Black Friday has grown for us year-on-year, and it’s helped us to grow our business by increasing sales and reaching new customers.
“We’re expecting this year to be bigger and better than ever before, with more customers discovering our products, helping to build our brand in the UK and across Europe.”
SMEs across the sector are being urged to participate in the multinational sales event, which will begin in the UK on Friday 17 November.
Most prominent retailers, such as Amazon, will typically run Black Friday deals for seven to 10 days.