Hugh Fletcher discusses consumer spending and Peak 2020 with CNBC
Hugh Fletcher, talks to Julianna Tatelbaum about Black Friday 2020 discussing bricks-and-mortar, vs online, the impact of lockdown on peak shopping spend, in particular, Black Friday and Christmas, who the winners and losers will be and the importance of an omnichannel and online strategy. See a snapshot of the interview on CNBC's Street Signs.
Commenting on who the key winners will be through this peak Hugh said: "The grocers and the supermarkets did a fantastic job keeping their service going during Lockdown. Walmart, John Lewis and Argos are always very strong during peak giving away lots of great offers, those retailers will be very strong. But of course, all those retailers that offer an omnichannel strategy will do better this year. Don't forget we are still coming out of the second Lockdown in the UK and so those that don't have adequate omnichannel offerings and online services will suffer."
When asked "What percentage of spend is likely to go to Amazon?" Hugh continued: "We are predicting overall that online sales will be about 67%, but in terms of Amazon, we think about 65% of that spend will go to them."
Download our Black Friday 2020 report to find out more about how and where consumers plan to spend their money during this 10-week "mega peak" and why it's critical retailers have their operations tested, plans in place and are prepared for a lockdown peak.