Black Friday is, without a doubt, the zenith of bargain shopping for both in-store and online shoppers. Black Friday statistics depict this as a day when shoppers are on the hunt for the best offers without having to worry about breaking the bank.
The day kickstarts the frenzy holiday shopping season with eye-catching promotional deals that lure shoppers into spending their hard-earned cash. Whether it’s making a tour to the mall, looking for a unique appliance on Main Street, or buying online from the comfort of the couch, this is a day when shopping shifts into high gear.
In this post, we’ve culled the latest search trends, sales volumes, statistics and patterns around Black Friday. With this information at your fingertips, you should get a better grasp of the fickle nature of modern consumers, especially during the season. We’ll also uncover trends that you can use to your advantage, including shopping cart use, social media shopping, and the like, to make sure you are one step ahead of the competition.
The total number of Thanksgiving shoppers has grown significantly over the last three years, from 174.6 Million in 2017 to 189.6 million in 2019. Steering this increment is the booming popularity of Black Friday, which has continued to soar high despite competition from Cyber Monday and Thanksgiving Thursday.
Source: DeloitteDesigned by
As statistics show, Black Friday 2019 was the busiest day for instore activity during the Thanksgiving Weekend. What’s intriguing is that the day topped Cyber Monday in terms of online activities despite the latter being renowned as an online shopping day.
According to Adobe, Black Friday 2019 was the second-largest internet sales day ever, trailing behind only Cyber Monday 2018’s $7.9 billion. This presented one of the strongest starts to the 2019 holiday season and an indicator that things are looking up.
The staggering amount spent online, typified by the growing order value, shows that consumers are spending heavily online. In other words, shoppers don’t necessarily flock to brick-and-mortar stores to find great deals on the products they want. Instead, the convenience and simplicity rendered by online deals nudge their interest to spend online.
However, all is not all gloom for brick-and-mortar stores. The continued growth of multichannel shopping shows that not all consumers are willing to let go of in-store shopping. Moreover, the growth of Buy-Online-Pickup-In-Store (BOPIS) shows that the brick-and-mortar store remains a focal point for holiday shoppers.
During Black Friday, two parties are involved — the consumer and the retailer. The growing list of retailers (in-store and online) is music to the ears of the consumer. However, for retailers, this means cutthroat competition. That said, the saying “survival of the fittest” rings true here.
The Black Friday statistics below show how retailers are competing for sales during Black Friday sales.
Source: Salescycle.com (2018)
As Phillip Rist (Principal – Prosper Business Development) opines, “ the growth of online retail sales is a powerful tide that elevates everybody.” This tide is at its peak during Black Friday, and many retailers go all out to ride the wave. However, only those that have invested in ecommerce technology continue to reap the top reward.
Take Amazon, for example. The ecommerce giant has put in place technology that provides a seamless shopping experience across all platforms. As a result, the platform has won the trust and loyalty of many consumers. It’s not surprising, then, that Amazon continues to outdo its competitors during Black Friday, by a huge margin.
For beginners, using a reliable ecommerce platform for small businesses can give your business the impetus it needs to thrive during Black Friday.
There is no doubt; consumers consider plenty of things before making any purchase during Black Friday. However, on top of their consideration is the deals and discounts offered by different retailers.
As you may notice, different products have better discounts on each day during the Thanksgiving Weekend (including Black Friday). Moreover, each retailer provides deals that give them an upper hand over its competitors. All these factors combined, play a huge role in determining popular buys during the Black Friday.
As you can see, Black Friday 2019 was the best time to buy appliances and sporting goods. Precisely, consumers got discounts as high as 18% for computers and televisions during Black Friday 2019. Another critical point to note is that toys topped tech products in the list of top-selling products in Black Friday 2019.
The holidays aren’t over. You can still take advantage of the upcoming Christmas spending, but make sure your ecommerce solution could scale to peak season, as these solutions:
Generally, consumers are motivated to complete sales before Black Friday promotions end or products are out of stock. This presents a huge opportunity for retailers to increase sales and boost overall business performance. Unfortunately, as the stats reveal, the abandonment and conversion rates are promising but do not live up to the hype around Black Friday.
Source: Adobe AnalyticsDesigned by
From these stats, it’s easy to see that the conversion rates are not overly convincing. Moreover, the abandonment rate during the Black Friday shopping frenzy is alarming. Luckily, the decreasing abandonment rates show that retailers are turning things for the better. However, its snail-paced nature means more needs to be done to get the most out of this short shopping period. For starters, it pays to learn about the shopping cart software and implementing one that optimizes conversion.
Black Friday happens during the Thanksgiving Weekend when there is a sudden upsurge in mobile use. This is the time of the year when the use of mobile is nearly double the predicted share for the entire season. This, coupled with the proliferation of mobile devices, has made Black Friday a mobile shopping event.
As Black Friday statistics show, in 2019, online retailers got a majority of their traffic from smartphones.
Mobile continues to grow as a channel for Black Friday, both in terms of traffic and sales. To put this into perspective, a comparison between Black Friday 2018 and 2019 figures reveals that mobile traffic has grown by 7%. On the other hand, the traffic from desktop and tablets dropped by 4% and 3%, respectively.
Mobile shopping is undoubtedly easier and faster for the shopper, and it translates to more dollars per minute for the retailer. Because of this, retailers need to think mobile-first when it comes to Black Friday in the coming years. Besides, you should study the most recent mobile marketing trends and apply methods that can boost your activities during Black Friday.
However, retailers shouldn’t overlook the importance of desktop. Despite recording a decrease in traffic levels, the desktop reigned supreme in terms of conversion.
With the growth of social media as a marketing tool, consumers are turning to it for inspiration and deals. Consumers are increasingly clicking through on the deals they find on social media. As a result, the revenue generated from social channels is growing, albeit at a snail’s pace.
Numbers don’t lie, and it’s clear that social media traffic has grown nearly threefold in the last three years. However, revenue generated from social media during Black Friday lags quite a bit. The main reason for this is that social media visits don’t convert as easily as visits from channels like search and email. However, you should learn more about the current social media trends to understand how the social landscape is tilting. This way, you’ll adopt better strategies to tap into social media traffic.
There you have it, our compilation of the latest Black Friday statistics. Hopefully, you’ll use these statistics, trends, and data to the advantage of your business. As you already know, preparing your store for Black Friday isn’t difficult, but it takes meticulous planning.
Black Friday is, without a doubt, a huge deal for ecommerce. While the day was not initially meant for online shopping, it seems consumers are deviating from the norm. As a result, the day is receiving a significant amount of online traffic, and you need to take advantage of this. For starters, this means beefing up online efforts and ensuring that the additional traffic during the frenzy won’t bog down your website.
Besides, you should create a buzz around Black Friday to get people excited, beforehand. An effective way to accomplish this is by posting teasers and sneak peeks of your deals on social media. And not just that. Strive to be unique with your offers. Consumers nowadays hate generic promotions and discounts. If you establish a unique angle for your initiatives, you’ll surely grab the shopper’s attention.
Most importantly, consider doing conversion rate optimization (CRO) and mind mobile commerce. As we have seen, shoppers are increasingly doing their online activities from their mobile devices. As such, you need to ensure your website is mobile-friendly to serve shoppers better on a busy day. Moreover, rolling out an elaborate CRO strategy will reduce cart abandonment during Black Friday, and ultimately, boost your margins.
You can read our guide on the leading shopping cart software to find one that can boost your conversion rates.
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