Black Friday delivered 50% more opportunities than Boxing Day – GBG statistics

SYDNEY, AUSTRALIA, 16 November 2020 – Ahead of the Black Friday Cyber Monday shopping season, GBG (AIM: GBG) has released statistics showing Black Friday delivered 50% higher retail transactions in 2019 than Boxing Day. Cyber Monday also out-performed Boxing Day, highlighting the major opportunity ahead for the cyber shopping weekend this year.

GBG is the global technology specialist in fraud and compliance management, identity verification and location data intelligence, and Loqate is its address verification solution that enables fast and seamless checkout experiences for online shoppers.

Source: Australia retail segment transaction data 2019 of Loqate, a GBG solution, sample of Australia’s largest fashion, beauty, luxury and personal technology marketplaces and brands

The latest stats show that Black Friday last year brought retailers five times more transactions in comparison to an average day outside of the holiday period, and three times more transactions in comparison to an average day within the peak holiday period.

Source: Australia retail segment transaction data 2019 of Loqate, a GBG solution, sample of Australia’s largest fashion, beauty, luxury and personal technology marketplaces and brands

Five days before Black Friday also saw a 20% increase in transactions, signalling retailers should now be planning to seize the market opportunity of this shopping frenzy at least a week in advance.

GBG has also seen the pandemic catalyse further online behaviour, accelerating an ongoing trend and shift to online shopping. According to GBG, there has been a 24% increase in year on year transactions between January to October, from 2019 to 2020.

Carol Chris, Regional General Manager Australia at GBG, said, “As businesses and retailers prepare for the holiday shopping season, it is important to take a broader look at the next two months overall. Due to the pandemic and anticipated changes to normal delivery times, consumers are planning, researching and shopping earlier than ever. Black Friday, though often seen as a warm-up to Christmas and Boxing Day sales, will likely be the biggest event of the year for many retailers, and having the right technology and customer experience processes in place will be critical to ensuring those customer opportunities aren’t lost to poor online experiences.”

The full GBG Australia Shopper Insights report can be accessed here.

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