For many years the Black Friday, i.e. the Friday after Thanksgiving, has been heralding the Christmas shopping season in the US. Department stores often open at midnight to draw in customers with special deals, discounts and promotional offers.
Over the last few years, e-commerce joined in and added a Cyber Monday. Now bargain hunters have the whole weekend, called Cyber Weekend, to profit from discount campaigns and special offers.
Black Friday and Cyber Monday are also fully integrated in the German e-commerce business, to the liking of ever more buyers, which is why we wanted to know how this super-sale day affects our customers. We took a closer look at the new shopping trend and found some interesting developments.
BLACK FRIDAY DRIVES 157 PERCENT MORE ONLINE SALES
In the German e-commerce market, Black Friday 2017 drove a 157 percent growth in sales compared to a normal shopping day. The year before, it was still only 115 percent. But even website visits and conversion rates have gone up by an average of 60 percent.
So, of course we wanted to find out whether our advertisers at Exactag also profited from Black Friday. And yes, compared to a regular shopping Friday the click rate increased by 60 percent, the number of conversions almost doubled. Revenues rose by 38%.
Black friday compared to a normal friday, source: Exactag
TREND TOWARDS CYBER WEEKEND
November is one of the peak shopping months. After all, Christmas business is already in full swing in November. No surprise, that e-commerce takes full advantage of this and extends the traditional Black Friday with Cyber Monday for the whole weekend, the so-called Cyber Weekend.
But which of the four days of Cyber Weekend is most successful? Surprisingly, Cyber Monday was not as popular with buyers as Black Friday. Rather, Sunday was another big day for online merchants, with a plus of 104 percent in revenue.
Even among Exactag advertisers, buyers still focus on the traditional Black Friday, closely followed by the other three days. Besides Black Friday, consumers make most of their purchases on Sunday. Most page impressions (32%) are made on Black Friday. 29 percent of the overall conversions on that weekend were generated on Black Friday, another 28 percent the following Sunday. Cyber Monday clearly lags behind at 23 percent, closely followed by 20 percent on Saturday.
Distribution of conversions on cyber weekend, source: Exactag
The success of Black Friday is most apparent when looking at the pro-rata sales on these four days. 35 percent of the overall Cyber Weekend revenue was made on Friday, with Sunday being the second-highest selling day at 25 percent.
Distribution of sales on cyber weekend, source: Exactag
TWO TRENDS DOMINATE CYBER WEEKEND AND THE REST OF THE CHRISTMAS SEASON
Around 89 percent of all German consumers know about Black Friday. The big run even temporarily crashed several websites. According to the Criteo Shopper Story there are two obvious trends:
Trend 1: Buyers Compare Prices More Than Ever
Buyers not only gather information earlier, they also compare more and more. Users don’t primarily buy at the first store they visit. Instead they browse through stores on different devices and compare products, prices, and availabilities.
Trend 2: Omni-Shopping
Buyers expect a seamless shopping experience across multiple devices and sales channels. Advertisers need to be able to seamlessly link users on different devices and channels. The right attribution model is ideal to support users throughout their buying process.