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Tips for driving Holiday sales – Black Friday and Cyber Monday

Tips for driving Holiday sales – Black Friday and Cyber Monday
Tips for driving Holiday sales – Black Friday and Cyber Monday

The grand consumer sales season is on the brink of arrival. Hot-trending product deals invariably excite consumers. Plus, retailers get more hopeful. The essence gets marked by the fourth quarter of the fiscal year; it is critical to the retailers’ bottom line. Holiday shopping accounts for up to 30 percent of the retailer’s annual sales.

The pandemic revolutionised holiday shopping through contactless options, including curbside pickup. Black Friday and Cyber Monday tend to rake in a ton of sales and revenue. That’s no secret! However, what matters is the magnitude of generated revenue and the number of shoppers taking part in retail events.

Understanding the numbers

In taking a view at figures which paint the picture of the scale of 2021 BFCM, the following stands true. According to the NRF 2021 report, about 179.8 million unique shoppers completed in-store and online shopping over the BFCM holiday weekend. Also, Black Friday remains the favourite shopping event. It registered around 104.9 million shoppers in 2021. However, in terms of online buyers, Black Friday beat Cyber Monday, with 88 million consumers purchasing on Black Friday compared to the notably lesser 77 million on Cyber Monday.

It’s all about holiday presents! Shoppers spent an average of USD 301.27 on holiday-related items, including gifts, decorations, clothes and toys, during the BFCM event. The bulk of this average, USD 215.4, was spent on presents.

In Going Global

Global online sales during the BFCM event peaked at an all-time high of USD 275 billion in 2021, a 2 percent increase from 2020. In the United States, the amount spent was approximately USD 62 billion, up from 4 percent in 2020.

Black Friday vs. Cyber Monday

In 2021, holiday buying during the ultimate peak on the retail calendar was just short of the record online sales amid the pandemic-fuelled 2020. According to experts, US consumers spent USD 33.9 billion online during the Cyber 5 period in 2021, a 1.4 percent y-o-y dip from the prior year.

Discover how an healthcare retailer made the largest ever Cyber Monday sale by redesigning eCommerce platform and improved customer experience

Download the Case Study to know the success story of a Healthcare Retailer.

Black Friday reins as the biggest day of the season. The traffic stemmed on the day from the broader sample spanning 100 million visitors. This figure was 22.4 percent higher than even the second-biggest day of the season, Cyber Monday. It recorded nearly quadruple the traffic at the start of November.

Discover how we increased business on Black Friday sales and decreased the page load time.

Download the Case Study to know the success story of a Healthcare Retailer.

In 2021, Cyber Monday was the only day that witnessed higher online traffic than those beyond 2020. In the broader sample, Cyber Monday overtook Small Business Saturday in 2021 for the second-biggest shopping day of the season.

What can you expect from holiday sales in 2022?

One should prepare their websites for higher traffic throughout November. However, Cyber Five will be the most important day. According to experts, spending on Cyber Five dropped 1.4 percent compared to last year, whilst spending in November was up by 11.9 percent. Despite this, Cyber Five continues to loom large. It records the highest traffic days for the entire holiday season period tracked.

Get ready for 2022

Plan and Setup Goal

In planning for 2022, there is the five-point checklist below for your perusal. First, set up the Key Performance Indicators. Once done, you must graduate towards understanding your customer demographic. Once these factors get identified, next is inventory management.

Better Engagement Strategy

Videos and creatives are the way forward. However, before that, one must start with creating landing pages before the event for indexing. Do not underestimate the power of SEO. Keyword research is the primary doorway toward attaining better engagement.

Although these make the layout, there is a lot to ponder over. Next in kin is mobile-optimised pages. These are a must today as a lot of shopping happens via mobile. According to experts, about 79 percent of smartphone users purchased mobile devices in the last six months.

Lastly, one must also look at link building. Adding internal links on other pages and vice versa helps boost online presence. Another aspect is leveraging backlinking to other sites related to your brand or those that promote Black Friday and Cyber Monday news.

Promotions and Giveaways

Preferably put up discounts and offers at the front and the centre. Doing so helps avoid a high bounce rate on the website. Also, display the promotion for the day above the fold in a banner. If there are no massive discounts, one can leverage existing offers. About 79 percent of consumers are more likely to shop when provided with free shipping.

Another aspect is gifting. One can leverage the rewards program or highlight additional value propositions. Remember to notify shoppers of price drops.

One can also entice end-users by hosting a giveaway for your best-selling product. Also, contests and quizzes make for another way to incite encouragement in the audience.

Referral Bonus

In doing so, one can offer minimum spend rewards on specific amounts. For instance, when customers check out with a USD 100 cart, they can get eligible for free shipping.

Minimum spend rewards and referral bonuses help increase conversion rates and encourage customers to spend more money with a business. A more effective way is if the rewards are tiered. Say a customer spends USD 50 and gets a 10 percent discount. Another who spends USD 100 might get a 20 percent discount.

Another tactic of note is referral marketing. It can work wonders for your brand. You can offer incentives such as gift cards or deeper discounts.

Cart Abandonment Campaigns

Today, customers have options when purchasing online. When getting the best deals, customers will browse and compare pricing. On average, about 70 percent of customers leave after adding an item to their cart. Cart abandonment is when customers leave your site after adding an item to their shopping cart.

Why does this happen? And what can be done about this?

Forced account creation

This is always a bad idea. It breaks the purchase cycle as it adds a step and turns some customers away.

Solution: Providing guest checkout. Those seeking to collect emails and other contact info shall do so after order completion.

Time-consuming checkout

Complicated procedures are a big-time turn-off! Each additional step and form field slows the user from finishing the payment.

Solution: Reduce the number of steps, minimise data entry, and optimise the checkout to make it streamlined. One way is to set up an auto-save capability. This happens when users abandon their shopping cart with items and auto-fill forms.

Security concerns

Customers expect credit card details and personal and financial information to get stored safely and that payment is processed securely.

Solution: Follow PCI compliance guidelines to store credit card details properly and validate transactions. Another is to use a high-quality fraud management system.

Lack of payment methods

Online buyers seek the convenience of their preferred payment method. The lesser the available options, the more the likeliness of abandonment.

Solution: Increase the number of payment options.

Retargeting existing customers

Selling a ton of products is great on Black Friday. But a customer’s value to your brand grows over time. The objective is to turn one-off purchasers into loyal, lifelong customers. According to a Shopify study, customer lifetime value is the lowest on holidays, including Black Friday. For a whopping 64 percent of retailers, shoppers acquired during Black Friday or Cyber Monday have lower lifetime values than other periods.

Festival makeover to the pages

Full room for creativity over here! You can makeover the pages by adding graphics, colour-coded themes and videos.

Partner with bloggers and influencers

Partnering with bloggers and influencers helps elevate sales and revenue. You can look at the influencer market during the Black Friday planning. Also, see which ones will be beneficial to help promote your products. One should consider utilising influencers at various points before and during the event.

Gift guide blogs

A gift guide blog is a curated selection of products. These get categorised for easy understanding of shoppers. For instance, you could create a “For your fashionista” guide highlighting any unique clothing pieces. Gift guides help promote specific items, drive traffic to the website or store, and generate excitement for your brand.

Mobile Optimised Website

Mobile-friendliness has become the rule today! At the end of 2021, mobile devices accounted for 54.4 of the global website traffic. Also, in 2021, internet users spent about half their time on mobile devices.

Conclusion

The two big consumer sales seasons are around the corner. And there are many ways of driving holiday sales. However, the intensely competitive digital landscape is a challenge. And penetrating and cutting through the complexity and surfacing at the top of the search engine bar is no easy feat.

In decking up your website for the upcoming sales season, Adapty can help create a demand-based, tailored and dynamic digital strategy that aligns with the KPIs and objectives. The team curates a tech architecture that bridges the gap between the bottom line and customer experience.

Contact us today.

Source – https://finicalholdings.com/us-holiday-shopping-statistics/
https://influencermarketinghub.com/black-friday-vs-cyber-monday/
https://www.digitalcommerce360.com/article/online-holiday-sales/
https://queue-it.com/blog/2021-online-holiday-shopping-statistics/
https://www.visenze.com/blog/2022/08/18/black-friday-cyber-monday-2022-checklist/
https://blog.upsellit.com/marketing-strategies-for-black-friday-and-cyber-monday/

About Amanda Cruz

Amanda Cruz is CX & Digital Commerce Strategist working with Adapty

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