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- 20 November 2020 15:14
Black Friday delivered 50% more opportunities than Boxing Day – GBG statistics
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.
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.
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: http://info.loqate.com/the-holidays-unwrapped-2020-holiday-shopping-trends-projection-gbg-australia-shopper-insights
Dayna Leng, Head of Marketing & PR, APAC, GBG
Lauren James, Head of Communications, GBG
GBG offers a range of solutions that help organisations quickly validate and verify the identity and location of their customers.
Our market-leading technology, data and expertise help our customers improve digital access, deliver a seamless experience and establish trust so that they can transact quickly, safely and securely with their customers online.
Headquartered in the UK and with over 1,000 team members across 16 countries, we work with 20,000 customers in over 70 countries. Some of the world's best-known businesses rely on GBG to provide digital services and keep the economy moving, from US e-commerce giants to Asia's biggest banks and European household brands.
To find out more about how we help our clients establish trust with their customers, visit www.gbgplc.com/apac, follow us on Twitter @gbgplc or LinkedIn.