Internation institutions have suggested that the online sales of various products are facing a huge demand during the time of the festive season. Technology has once again proved its potential by developing such online e-commerce platforms. These platforms have generated a great profit during the time of pandemic which forced millions of people to purchase a product through online stores. Online retail association IMRG has stated that the online sales figures are increasing consistently over a period of time during the pre-Christmas sale. Analysis sales due to the strict lockdown and overall stress which resulted in huge unemployment. It looks like the sale pitch of the e-commerce online sites might witness a great upside during Black Friday. These online platforms are expected to come up with great deals that push millions of people to buy the product at a cheaper rate.
The impact of the second lockdown in many countries has been strictly followed to prevent their people from the deadly virus. World health bodies advised the governmental institutions against the second wave which is expected to cause more damage similar to the first wave. It’s estimated that online sales might increase up to 35-45% during Black Friday due to the high traffic which looks to but product from the online platforms. Its added that online e-commerce platforms have already expanded their market space by 34.9% during the last couple of months. It looks like e-commerce platforms might be experiencing great positive momentum in the upcoming years mainly due to the potential involved in the business. There are chances that people might be spending more money on buying the product from these online stores claiming over the discount. The purchase drive is expected to expand over time during Black Friday. Servers of these online commerce platforms are being restored to function in their full potential.
IMRG which is one of the prominent guiding body has advised 320 retail sites to share their study during the Black Friday sales. It predicted that more than a million customers will be diving inside these platforms searching for their favorite products. There are multiple online platforms which are developed in the last couple of year are also expected to meet great sales during the end of November. Research conducted by The Centre for Retail Research has drawn the conclusion that shoppers will spend £73.4bn over the course period of 6 weeks leading to Christmas. It’s predicted that the lockdown has increased the sales volume up to £1.3bn. It’s clear that the majority of the sales will happen over the internet through the online e-commerce platforms in the next three years. Supply chain and logistics have been greatly improved by the software companies through their innovative solutions. These applications bridges gaps between the buyer and seller by improving the fast and safety delivery of their product.
Local Retailers are struggling to withstand the strong windblown by these giant online companies by offering discounts. Many retail giants have already shown loss during their quarterly result which clearly gives an idea over the change in the customers shopping. Prior to the introduction of online platforms, Retails shops were incurring millions of dollars as their profit.