Black Friday: facts, keys, tips & forecasts
Black Friday remains one of the most anticipated shopping events of the year, and in 2023 it is expected to continue to set a milestone in both online and offline retail sales. Here’s an update with recent data, key trends and strategies to make the most of this Black Friday.
Important Dates:
- Black Friday: November 24, 2023
- Cyber Monday: November 27, 2023
Continued Impact of the Pandemic
Pandemic continues to influence consumer preferences and behaviors. Ecommerce has experienced steady growth, with more shoppers opting for online shopping due to convenience and security concerns.
Data and trends
- During the 2022 holiday shopping season, online sales exceeded $250 billion, further cementing the importance of eCommerce during the holidays.
- In 2022, online spending on Cyber Monday in the U.S. exceeded $110 billion, showing a steady increase in online shopping.
- While Black Friday 2022 generated solid sales, there was a stronger preference for eCommerce compared to physical stores.
- Popular categories on Black Friday 2022 included electronics, fashion, beauty and home goods.
- The overall average conversion rate on Black Friday 2022 remained at around 3.5%, demonstrating that online shoppers are becoming increasingly selective.
- The highest conversion rates were recorded in Australia, averaging 5.2% in 2022.
- Mobile devices remain the top choice for browsing and shopping online, with more than 70% of shoppers transacting via their mobile devices.
Source: Statista.
Strategies for Success
- Plan ahead: start planning your actions and promotions at least 4 weeks before Black Friday. This will give you time to create content, adjust your website and prepare your ad campaigns. For this you will need to organize a marketing calendar and organize your strategy well in advance.
- Personalization and segmentation: use past behavioral data and preferences to segment your audience. Create personalized campaigns that resonate with different groups of buyers.
- Pre-promotion: advertise your offers in advance to create buzz among consumers. This will give them time to plan their purchases and increase the likelihood that they will visit your site during Black Friday.
- User experience: make sure your website loads fast and is easy to navigate on mobile and desktop devices. A smooth experience will increase conversion rates.
- Strategic PPC campaigns: invest in pay-per-click (PPC) advertising campaigns on platforms such as Google and social media. Perform A/B tests to optimize your ads and maximize ROI.
- Effective retargeting: use retargeting to remind visitors about products they abandoned in their shopping carts. Offer additional discounts to incentivize purchase completion.
- Measurement and analysis: constantly track your sales metrics, conversion rates and other key indicators. Adjust your strategies based on the data collected.
In summary, Black Friday remains a crucial event for online and offline retailers. By being prepared with a solid digital marketing strategy, personalization and focus on user experience, you can capitalize on trends and maximize sales opportunities during this key event.
Customer Engagement holds the key for any online business . This becomes even more critical for impending mega sale event , like New Year Sale, Black Friday etc.Among various ways to entice customers to alluring deals is sending Push Notification or pop ups as rightly pointed above. We can send push notifications to customers well in advance( as we have options like scheduled notifications), about the products which are going to be on sale, discounts , and offers .This will not only help in promotion and create anticipation for the upcoming event but also builds brand value .If customers are notified in advance they can also make informed decision about the purchase and avoid any on the spot purchasing.