Black Friday and Cyber Monday Boost Sales Amid Economic Uncertainty

  • Online fashion revenues increased by 6% YoY in December
  • Order volumes fell by 7% YoY but average order value grew
  • Black Friday and Cyber Monday boosted sales
  • Fashion revenues rose 10% in October, 12% in November, and 6% in December
  • Average Order Value (AOV) increased by 11% compared to 2022 in Q4
  • Discounting events played a key role in generating demand during peak trading
  • Retailers need to focus on margin protection and customer retention strategies

Online fashion revenues grew by 6% year-on-year in December, according to True Fit’s data. Although order volumes fell by 7% during the same period, those who did place orders spent more money. The Golden Quarter saw a 10% increase in October and a 12% rise in November, with a 6% growth in December. Black Friday and Cyber Monday (23-27 November) contributed to this trend, as order volumes rose by 14% YoY. True Fit’s COO Jessica Arredondo Murphy emphasized the importance of margin protection and customer retention strategies for retailers amid a challenging economic climate.

Factuality Level: 9
Factuality Justification: The article provides accurate information about the increase in online fashion revenues, cites a reliable source (True Fit’s Fashion Genome), and includes relevant quotes from an expert in the field. It also presents data on order volumes and Average Order Value during specific time periods. The article is well-researched and objective.
Noise Level: 3
Noise Justification: The article provides relevant information about the increase in online fashion revenues during the Golden Quarter and highlights the impact of Black Friday and Cyber Monday on sales. It also offers insights into retailers’ strategies for margin protection and customer retention. However, it lacks a more in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Online fashion retailers
Financial Rating Justification: The article discusses the increase in online fashion revenues and its impact on the Golden Quarter sales, which affects the financial performance of online fashion retailers.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the article

Reported publicly: www.retailsector.co.uk