We’ve delved into Black Friday statistics from the past few years to identify key trends and assess what they could mean for your business on Black Friday 2015.
There was a time when Black Friday only affected stores in the United States.
But for better or worse, Black Friday is spreading. It’s already taken hold of the UK and is slowly extending its grip over the rest of Europe. Whilst brick and mortar stores can expect to see huge queues and products to fly off the shelves, Black Friday is arguably more important for those in eCommerce. It marks the beginning of a month long period that could make up 30% of annual sales.
Every year sees Black Friday grow in strength. We’re still a few days out from knowing exactly how it’s going to play out in 2015, however, the statistics from the last few years give the impression that this could be the biggest year yet for online retailers. Those with a properly optimised Black Friday campaign seem set to really reap the rewards of Black Friday this year.
Black Friday statistics
1 – Between 2013 and 2014 Black Friday saw a 26% increase in sales whilst Cyber Monday saw a 16% increase. eMarketer.com
2 – This increase led to 2014 being the biggest year for holiday sales on record. eCommerce stores took $1.51 billion on Black Friday and $2.04 billion on Cyber Monday.
3 – Brand loyalties count for little. Over half of Google survey respondents in 2014 considered purchasing from a new retailer, 41% actually did. That’s a substantial increase over the brand loyalty changes in 2013.
4 – Cart abandonment continues to rise. The period 2011 to 2014 has seen gradual yearly increases in shopping cart abandonment resulting in an approximate 7% increase. Make sure you have a good cart abandonment campaign in place.
6 – 2014 saw more than 180 million website visits on Black Friday in the UK, up 40% from 2013. This increase equated to an estimated total spend of £810 million. Experian
7 – Mobile seems set to play a huge part this year, ensure you’ve got your mobile site properly optimised. In 2014 nearly $1 trillion of all retail sales were influenced by shopping related mobile searches. 53% of those who shopped online used mobile devices, up 41% from 2013. ThinkWithGoogle
8 – When it comes to mobile, iOS reigns supreme. The average order value for Apple devices is $121.86 compared to Android’s $98.07. A difference of 24.3%. Apple also outperforms in both traffic levels and sales volume. IBM
9 – Despite the growing use of mobile, desktop still reigns supreme. Average order value on desktop is a respectable 16.6% increase over mobile at $135.33. IBM
11 – Between thanksgiving and Cyber Monday a total of $6.6 billion was taken in the US. An increase of 24% from 2013. Momentology
12 – Conversion rates increased in the UK by 7% in 2014, and by 8.3% in the US. eConsultancy
13 – For the last three years Black Friday sales peak early in the day at around 8:55 A.M. From there, it’s a slow decline until the end of the day. IBM
14 – Black Friday 2014 was Amazon’s busiest ever day. They sold 5.5 million items which is about 64 items per second. BBC
15 – Cyber Monday still beats Black Friday on selling power. They’re still the top two shopping days of the year, but the edge lies with Cyber Monday. – Custora
16 – Custora Pulse is already listing an increase in every metric in the run up to the holiday period. Even if these increases stay as they are now and don’t jump to the usual holiday period levels we can expect this year’s Black Friday and Cyber Monday to once again break all the records. Custora Pulse
So what does this all mean for you?
The statistics tell a pretty clear story.
There’s been a year on year increase in every single metric over the last few years. But these increases aren’t limited to the positive metrics.
Whilst revenue definitely increases in the holiday period there’s also an increase in bounce rate, cart abandonment and lost sales. Basically, you’ll also be leaving more money on the table.
With the potential to break the $1 trillion in total sales mark you can’t afford to ignore this year’s holiday shopping season. However, the stats tell us that winning big isn’t simply a case of optimising your site.
The big winners this year will be looking to snatch the prospects who’ve forgotten their brand loyalty and also focus on how to remove much of the revenue lost through cart abandonment and increased bounce rates.
Black Friday is just around the corner. You should already have a solid campaign in place to get the most out of this holiday period. If you’ve not yet started or would like a little help optimising your eCommerce site or optimisation campaigns in the coming months, get in touch with one of our specialists now.