Why is Black Friday Important to eCommerce Retailers?
“Black Friday is a great day for driving users into the site for sale items, but it’s also a huge day for non-sale items too, with users coming to see if that item they wanted has been discounted, and then buying it even if it isn’t”
Traditionally, retailers would roll out a variety of in-store deals on everything from electronics to toys to kick off the Christmas shopping season, opening the stores as early as 5 am. In recent years, however, the shopping frenzy has moved online, with 2018 being a record-breaking year for eCommerce retailers bringing in $6.2 billion in online sales growing by 23.6% compared to the previous year. With more and more people choosing to carry out their pre-holiday bargain hunting online eCommerce retailers enjoy an unprecedented opportunity to attract new buyers and increase their sales volume..
Key Black Friday eCommerce insights:
Black Friday shoppers are more likely to shop online than in-store, with more and more people using mobile devices to complete purchases online. Americans are 6 times more likely to buy online on Black Friday compared to sales on any other Friday.
eCommerce retailers report up to 240% and 380% increase in revenue on Black Friday and Cyber Monday respectively.
Compared to a normal sales day, online traffic increases up to 220% on Black Friday and 155% on Cyber Monday.
All-day or longer period sales events are more effective than flash sales.
More than 70% of Black Friday desktop shoppers spend their money with retailers who offer free shipping.
The five-day shopping bonanza is an ideal time for e-retailers to clear their stock.
Tips For eCommerce Retailers on How to Prepare For Black Friday
Online Black Friday sales can start as early as Monday of that week, so make sure you’re ready to engage the bargain-hungry shoppers well in advance. Recent years have seen a plethora of Black Friday marketing ideas and the list continues to grow, yet some of the most successful strategies include:
▪️Capitalising on the art of online merchandising.
▪️Offering incentives to accelerate social sharing.
▪️Creating gift guides.
▪️Taking advantage of emotional triggers.
▪️Customer Acquisition:
New customer acquisition can be expensive, but Black Friday offers retailers a chance to acquire new customers at a key time of year.
▪️Incremental Sales:
People have a real intent to purchase around the Black Friday weekend and this can translate into incremental sales.
▪️Easier Fulfilment:
One benefit of shifting sales to earlier in the Christmas shopping season is that orders can be processed and shipped well before Christmas.
▪️Pressure to Discount:
Black Friday has been known for generous discounts, and some customers have come to expect it.
▪️It Can Generate Returns:
Discounting and therefore selling more at this stage of the holiday season means that the cost of ecommerce returns to online retailers increase in the final weeks running up to Christmas
▪️An Opportunity to Clear Stock Before Christmas Season:
Many retailers see Black Friday as an opportunity to clear old inventory in order to introduce newer stock in time for Christmas.
Black Friday Marketing Ideas
1. Build Your Black Friday Email List
2. Schedule Your Popups
3. Experiment with Timing
4. Make Your Sale Memorable
5. Use the Element of Surprise
6. Offer More Benefits
7. Make Your Subject Line Stand Out
8. Redefine Black Friday
9. Tease Your Next Campaign
