Cyber Monday sales drop 10% following disappointing Black Friday

Cyber Monday sales in the UK fell nearly 10 per cent compared to last year, following a disappointing Black Friday for struggling retailers.

According to Barclaycard, which processes close to a third of all transactions in the UK, payment volumes dropped 9.9 per cent over Cyber Monday.

This followed an even greater drop in sales on Black Friday, when Barclaycard reported a 16.7 per cent year-on-year drop in spending.

“While transaction volumes are still down compared to last year, the gap has narrowed considerably since Black Friday, and this is likely the result of strong e-commerce sales,” Barclaycard’s chief executive Rob Cameron said.

“That being said, the drop overall was expected, given that many physical stores are still unable to open, and many retailers have been spreading out their online deals throughout the month to avoid a bottleneck.”

READ MORE: Black Friday retail sales drop despite rise in online shopping

According to separate data from Mollie, this year saw a significant rise in the number of shoppers using ‘buy now, pay later’ schemes like Klarna and ClearPay, almost tripling since last year.

Across the pond it was a very different story, seeing Cyber Monday sales jump 15.1 per cent year-on-year to $10.8 billion, according to Adobe which analysed 1 trillion visits to US retail sites.

The total US season-to-date holiday spending including Cyber Monday has now topped $100 billion, a figure not usually reached until mid December.

Adobe’s director of digital insights Taylor Schreiner said: “Cyber Monday continued to dominate the holiday shopping season, becoming the biggest online shopping day in U.S. history despite early discounts from retailers.”

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3 Comments. Leave new

  • There was a serious lack of proper discounts on black Friday. Add that to longer run up of sales on yet all it was was discount on a inflated price. People just caught on this time

    Reply
    • Stuart Wooster
      December 3, 2020 10:39 pm

      Agreed. I wanted to buy a new PC and one retailer was offering a measly 1% discount. Given that it wouldn’t possibly be delivered till 2021 anyway I’m now going to wait and see if the January sales are any better. I did buy the new GoPro Hero 9 but they’re still advertising the same deal 4 days later.

      Reply
  • No one is fooled anymore. I’ve already checked and the “Black Friday” prices at PC World, on for just 1 example the Galaxy Tab 7, exactly the same now as on Black Friday, and long past Cyber Monday.

    Reply

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