Recent data collection analysis explains that we are buying more but spending less.
Barclaycard have recently claimed that their data shows 10% more transactions than the previous year for Black Friday. However, the average amount of money that is being spent in these transactions is actually 12% less than the previous year.
Additionally to these findings, separate data reveals that there is an uptrend in customers’ purchasing patterns through online methods compared to people purchasing items in person. This data matches results from Springboard this year, who claim that retail (on Black Friday) suffered a 7% decrease in customers, 6.4% lower high street customers and a shocking 9.1% less customers in shopping centres.
The first overall conclusion that can be examined here, is that people are spending less money, but buying more items.
The second conclusion would be that less people are shopping in the high street, the local shops and the shopping centres, but rather choosing to just purchase their items online.
With an estimate of just under 4.2 billion people being active internet users and a total of 3.4 billion social media members online, our guess would be that this decrease in public shopping may unfortunately continue to be on the decline. For more on Global Digital Population click here.
To read the full article: Black Friday Shoppers ‘spending less’ click here.