Friday? No Monday is the day for bargains
RETAILERS are hoping for a £1.4billion cyber bonanza tomorrow.
Experts warned that websites could crash as consumers go on online shopping sprees.
With price cuts of up to 87 per cent in online sales the spending is set to dwarf Black Friday’s £1billion splurge – down from £1.1billion last year, according to the Centre for Retail Research.
Analysts have attributed this fall in part to “ghost buyers” going into shops to check prices before buying online on Cyber Monday.
A YouGov survey found almost one in five millennials admitted to “ghost buying” on Black Friday.
Online spending is expected to soar at 8am and 6pm tomorrow, while another £1.5 billion will be spent in shops.
Meanwhile, online searches for holidays and flights have soared by 1,050 per cent in the past week.
The four-day £8.29billion shopping spree from Friday to Monday will be even bigger than the splurge in the days before and after Christmas, the Centre for Retail Research (CRR) and Financial Conduct Authority found.
Among the biggest reductions were Debenhams cutting prices of Hobbs Lauren dresses from £169 to £21.60.
But experts warned of websites crashing tomorrow. Jimmy New, marketing director for VoucherCodes, said: “Some websites will buckle under the pressure on Cyber Monday.
“Those worried about missing deals due to websites going down should set their alarms for 7am to avoid the virtual crowds,” he said.
Gavin Lowther, from retail website software firm Visualsoft, added: “Retailers are not learning from embarrassing website crashes.
“They will lose out as they are not getting the basics right.”
Black Friday saw shoppers braving freezing weather to queue outside Tesco from 5am, with John Lewis sales peaking from 6-7am.
The John Lewis website’s most searched-for products were Apple AirPod earphones, down £100 to £269, and Apple Watch Series 3, down £60 to £249.
Currys PC World reported computer purchases six times higher than on Black Friday 2017.
Mintel director of retail research Richard Perks said: “There are signs shoppers are disillusioned with Black Friday. People may check high street prices over the weekend.
“Retailers will have Cyber Monday promotions and there will be mobile shopping surges.
“But it’s crazy that retailers are training shoppers to wait for late November discounts before spending. Retailers are undermining their own business.”
Professor Joshua Bamfield, director of the CRR, added: “Retailers want to make as much money as possible in the ‘golden quarter’ covering Christmas.
“But Cyber Monday and Black Friday are delaying spending from September and October.”