The independent study of over 100 UK ecommerce decision makers also found that 48% did not feel completely ready for seasonal peaks in website traffic. 58% of UK retailers admitted they faced page speed issues during 2016-2017 seasonal peaks.
Last year, a PwC and Local Data Company report found that 2,656 physical outlets closed on Britain’s high streets in the first half of the year. This was a rate of 15 stores a day, up from 14 a day during the same period in 2015. Greater London saw the biggest net drop in the country as 164 shops were lost – emphasising that retailers need to maximise revenue during peak times, like Cyber Weekend.
Peak holiday times such as Easter, Black Friday, Cyber Monday and the Boxing Day sales represented over a GBP 7 billion boom for the British economy in 2016. Periods like this represent a considerable percentage of the overall annual revenue for retailers, so maximising on these seasonal peaks is often the difference between making the black and sinking into the red.
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