London – 12 April 2017 – Electronics retailers will be placing their bets on a big weekend over Easter, as data from Worldpay suggests card spending on laptops, smartphones, TVs and tablets could be worth as much as £142 million* to the sector over the long weekend.
With dozens of high-street retailers slashing prices over the Easter bank holiday, Worldpay’s analysis of consumer spending habits suggests specialist electronics retailers will be the biggest beneficiaries. Excluding Easter Sunday, when many electronics retailers are closed for business, overall card takings for the Easter period could be up by as much as 43%** compared to the seasonal average.
This Saturday is set to be the busiest shopping day during the long-weekend with Worldpay’s data indicating that shoppers could spend as much as £42 million* on electronics goods, up 30%** compared to average, and on a par with the last Saturday before Christmas, often referred to as Panic Saturday.
Commenting on the data, James Frost, UK CMO, Worldpay, said: “The traditional Easter spring clean is taking on a new meaning among today’s tech-centric consumers. Instead of breaking out the dustpan and brush our analysis suggests shoppers are using the four day break to give their technology a spruce up with a seasonal spending spree.”
Other sectors set to cash in on consumer bargain hunting this weekend include:
- Garden Centres – £20 million (+19%)**
- Furniture stores – £69 million (+27%)**
- Clothing stores - £88 million (+24%)**
- Department stores - £135 million (+14%)**
Frost continued: “With high-street spending in certain sectors rivalling Christmas this weekend, retailers of all sizes need to make sure they’re properly equipped to deal with the expected surge in customers. Big queues might look good outside a nightclub, but they’re an absolute killer in the retail space where customers want reliability, speed and convenience.
“Stores need to prioritise putting more staff on the shop floor to offer advice, locate items and take payments, alleviating pressure from the tills as customers queue to purchase items and making the shopping experience painless even at the busiest of times.”
About the data
*Calculation is based on sales processed over Easter weekend 2016 (Fri 25th - Mon 28th March). Total is based on the assumption that total sales processed by Worldpay in March 2016 equate to 40% of total card transactions over that period
**Calculation is based on an analysis of consumer spending patterns in UK towns and cities over Easter weekend 2016 (Fri 25th - Mon 28th March), excluding Easter Sunday, compared to that during the same period Fri 18th - Mon 21st March, Fri 1st - Mon 4th April.
Worldpay is a leading payments company with global reach. We provide an extensive range of technology-led payment products and services to around 400,000 customers, enabling their businesses to grow and prosper. We manage the increasing complexity of the payments landscape for our customers, allowing them to accept the widest range of payment types around the world. Using our network and technology, we are able to process payments from geographies covering 99% of global GDP, across 146 countries and 126 currencies. We help our customers to accept more than 300 different payment types.
Worldpay UK has more than 40% market share in the UK and helps businesses of all sizes sell more to their customers by accepting card payments in-store, online, via mail or telephone, and on the move. www.worldpay.com/uk
For more information please contact:
Suraj Mashru, Golin: T + 44 (0) 20 7067 0494
Angela Woodward, Worldpay: T: +44 (0)203 664 2605