We hope that everyone enjoyed their holiday feast and was able to catch the best deals this past Thanksgiving weekend. As we wrapped up the holiday weekend, the statistics from the Black Friday-Cyber Monday ‘21 are finally in and we just want to share this information so we are all aware of how much we overdosed in shopping this past few week/s (just kidding!). Both shoppers and sellers will benefit in knowing the information that we are about to share so please scroll down and continue with the read!
Black Friday (before the birth of Cyber Monday and the two became a BFCM duo) has always been a popular post-highlight of Thanksgiving in the US. It is certainly something that people mark their calendars and clear their schedules for. Before the boom of e-commerce, consumers used to go through hundreds of flyers, select the items that they were interested in willing to fight for, and planned out which stores they will line up at 5 in the morning for but thank goodness that those exhausting days are finally over (speaking from personal experiences). With the luxury that e-commerce brings us, shoppers no longer have to create a whole shopping strategy for Black Friday and sales have been extended to Cyber Monday.
Let’s go ahead and cut to the chase so shoppers can grab the information they need and sellers can grab the tips that will help both parties enhance their experiences during BFCM.
To start, we would like to just clear something in the air. BFCM sales aren’t just happening after Thanksgiving. Because of the online competition increasing tremendously in the past few years, sellers are now offering pre-Thanksgiving sales to capture shoppers who are always looking for a great deal before they go full throttle on shopping during BFCM. Here’s a tip to sellers: extend your BFCM sale by starting early — like a week early. You can send out your campaigns via email, social media, SMS, etc. right before your pre-sale. Why? It’s simply FOMO (fear of missing out) and your loyal customers would certainly be delighted to get the first dibs in the discounted prices. Sellers get their sales and customers get to spend less on the items that they have been eyeing without having to wait until after Thanksgiving.
This year, the total global sales has hit $6.3 billion which was generated from shoppers worldwide and with 47 million of those stores from Shopify-powered businesses alone. Although the Black Friday tradition was originally an American kind-of-thing (and Thanksgiving in November, too), shoppers worldwide can now take advantage of BFCM sales because majority of e-commerce now offers global shipping so even if it’s just a non-holiday Friday for someone in the city of Montpellier, they can still make it a joyous shopping day. How else can this information be helpful? Well, for sellers, the pre-sale and/or extended sale strategy is applicable for any holiday season. And just like shoppers worldwide being able to shop during America’s BFCM, it wouldn’t hurt to keep other countries’ holidays in mind and run sales during those periods. US-based shoppers can also shop and capture the holiday sales worldwide while relaxing in their own homes.
Reference: Shopify
P.S. Here’s another tip for our dedicated online sellers; invest in running campaigns on social media platforms (paid social) especially during the holiday season because the proof is in the pudding (see chart below).
Reference: Shopify