Black Friday 2023 trends: Preparing for Cyber Week

We're talking about Black Friday 2023 trends. We know it's not even October yet, but you need to be ready  for Cyber Week as soon as possible.

 

Whether we like it or not, this promotional period has become one of the strongest of the year. Black Friday affects our planning for the last quarter of the year, so... what's better than reviewing market predictions for this Black Friday and Cyber Monday?

To compile this article, we wanted to gather some interesting data and statistics related to this period. When it comes to talking about trends, it's always better to rely on real numbers. We've turned to reports from Adobe Analytics and Statista, which handle a large amount of relevant data.

 

Let's start with something negative, but we shouldn't ignore it. Inflation is having a significant impact on Europeans` shopping habits in general, and Spaniards in particular.

 

According to this Statista graph, the intention to make purchases during Black Week drops significantly. For example, in Spain or France, with similar figures, we see that the number of people planning to cut their expenses, to a greater or lesser extent, is around 60%.

This might surprise you, but in certain studies like the one conducted by the American NRF (National Retail Federation), the performance of Monday is increasingly being equated with that of Friday.

 

It's not that Cyber Monday will overshadow Black Friday, but it has become another huge card to play for eCommerce.

 

Consider this data: in the United States, on an average day, sales range between 2 and 3 trillion dollars. Well, on Cyber Monday 2022, they far exceeded 11.3 trillion dollars.

 

Therefore, prepare intensely for both dates, and if the results of Black Friday aren't what you expected, make an additional effort to have a successful Cyber Monday (which also has slightly less competition).

Talking about mobile-friendly or mobile-first stores at this point may seem almost outdated, but it's essential to have a functional website that ensures a good experience for mobile phone users.

 

Ready for THE stat? In 2022, 48% of purchases made during Black Friday and Cyber Monday were made using a mobile device, almost half!

 

Double-check the shopping experience and ensure that customer service elements like live chats and chatbots also work seamlessly on mobile phones.

As it sounds, it's increasingly important to include deferred payment solutions among our payment options. It's called "buy now, pay later."

 

Again, based on the Adobe report, we see an increase in the use of these services during the cyber week. In 2022, this increase is estimated at 85% when comparing the Black Week with the immediately preceding week. This, theoretically, represents a conversion rate increase of between 20% and 30%.

As this period of offers has become so standardized, the public is aware that they have the opportunity to find real bargains if they search enough among the various competing stores.

 

The average discount is 25%, and in categories like toys, it goes up to 34%. As you can understand, if you set your discounts at 10%, you're at a disadvantage because buyers won't have much trouble finding a better price.

It's important to have your SEO campaign ready, of course, but during these days, the competition in SEM will be especially tough. It's worth the effort because 28% of sales come from this channel.

 

Choose carefully which promotions and products you decide to work on during these days; don't try to cover everything or send traffic to the homepage. It's better to select and segment to sell high-margin products or those that are strategically stronger for you.

 

Don't forget to make the most of your own channels like email marketing, SMS, or, why not, new channels like WhatsApp.