Home / Knowledge / News / Apparel/Garments / UK retailers may lose out on £640mn Christmas sales
UK retailers may lose out on £640mn Christmas sales
29
Nov '13
Whilst the countdown to Christmas has been planned for months, the dawning of Black Friday on Friday 29th November now signals the start of the final flurry for seasonal sales.

The phenomena started in the US, to capitalise on the opportunity to retail to millions of Americans taking time off from work to enjoy Thanksgiving celebrations. 

Now the globalisation of the retail market means international brands and retailers are now using Black Friday as a trigger point to launch seasonal offers across the world, and this year UK consumers are also expected to benefit from a host of tempting Christmas deals. 

However experts caution that instead of cashing in for Christmas, UK retailers could be left with a £640m worth of lost sales caused by retail operations struggling to cope with a dramatic surge in sales. 

Retail technology company, Retail Assist has calculated the potential cost to retailers from the value of sales they could miss out on if the retail operation buckles under the pressure of a surge in sales. 

They predict the biggest risk to retailers is at the till point, with an average of 1.82%  of EPOS systems expected to be down every day during December, leading to increased wait times, in store congestion and basket abandonment. 

Dan Smith, Retail Assist CEO comments: “The potential financial penalty to retailers from something as simple as a till going down is huge, as they could end up losing sales from consumers who are already committed to purchasing but end up abandoning their basket in frustration. ”

Retail Assist believes that retailers are not just vulnerable from losing sales at the till point, but also through inventory systems not being up to scratch. Dan Smith continues: “Our research indicates that 57% of people will be buying their Christmas gifts through on and offline shopping. It means, however the consumer is shopping, the retailer has to be in a position to meet a consumer demand.

“Inventory systems need to be integrated to ensure whether the consumer shops online, in-store, through catalogue, tv or mobile, the retailer can fulfil the order and not let the consumer down.  We estimate that at least 75% of retailers have failed to get their inventory systems integrated across all retailing channels, and it is highly likely they will lose sales through not being able to supply customers with a product they want to buy.”

Dan Smith concludes: “As UK retailers continue to experience a challenging economic climate our message is that retailers should be counting the cost of lost sales from preventable retail operations problems. 

"As well as investing in front line sales staff, retailers need to ensure their technology is equipped to cope with intense operational activity across multiple retailing channels.  If technology and the supply chain fail to deliver then it will not only damage sales but shall deter people from returning which will be a detrimental outcome for any retailer.”

Retail Assist Limited


Must ReadView All

Serbian economy minister Goran Knezevic (left) and Taypa president Mesut Toprak after signing the MoU. Courtesy: Serbian Government/SeeNews

Textiles | On 20th Oct 2017

Turkish group Taypa to build textile factory in Serbia

Turkish textile group Taypa will invest euro 35 million ($41.2...

China’s textile & apparel exports rise 4.3% in Sept ’17

Textiles | On 20th Oct 2017

China’s textile & apparel exports rise 4.3% in Sept ’17

Registering an increase of 4.3 per cent year-on-year, the exports of...

Courtesy: Messe Frankfurt

Textiles | On 20th Oct 2017

Heimtextil to focus on textile solutions for architects

Heimtextil 2018, world's leading trade fair for home and contract...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.9%
No
13.2%
Skip
8.8%

Total Votes: 68

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
27.9%
Skip
10.3%

Total Votes: 68

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.3%
No
10.3%
Skip
4.4%

Total Votes: 68

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.0%
No
11.8%
Skip
13.2%

Total Votes: 68


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search