Black Friday is the biggest shopping event of the year. But no Black Friday sale is the same—each year’s unique combination of societal and economic factors plays a huge role in how and when people spend money. Are your retail logistics ready?
People spent an average of $301.27 on Black Friday 2021, contributing to $179.8 million spent over the weekend as a whole.
Today, ecommerce sales make up 21% of global retail sales. Which is a 50% increase on pre-pandemic levels. Although in the online shopping frenzy the cart abandonment rate is 78% globally.
Online channels, especially mobile and social have also experienced significant growth. Social commerce most significantly has grown by 29% since 2020.
The average Black Friday discount is 24%
The discounts have been steadily decreasing year on year, and are currently 8% less than pre-pandemic. Paired with the average selling price (ASP) up by 5% globally, the savings customers are making aren’t actually as big as in years gone by.
Almost every brand takes part, think Pandora, Nintendo, Lego, Ninja, Meta, Tefal, Shark, and many more. Similarly, retailers go large, with the likes of Amazon, Argos, Boots, Currys, and John Lewis & Partners all slashing their prices on big-ticket items.
Discounts are to be had across everything from TVs, laptops, gaming, and tech to mattresses, home appliances, beauty, fashion, and toys, if you are prepared to do some homework you can find some good deals.
Amazon accounts for 17.7% of Black Friday sales
Amazon offer a Black Friday week – 18-28 November and 55% of consumers start their online shopping from Amazon. For two years in a row, Amazon has been the top BFCM retailer.
The resurgence of in-store sale shopping
Black Friday 2021 saw over 66.5 million in-store shoppers. According to data from RetailNext, this was a 61% increase in foot traffic compared to 2020. While this boost is a great sign, in-store traffic was still 27% below pre-pandemic rates in 2019.
The bonanza initially started in the US as a way for brands to mark the start of the Christmas shopping season the day after Thanksgiving. The Black Friday 2022 sale will officially start on Friday 25 November and run across the entire weekend until the following Monday – dubbed Cyber Monday – when the sale event ends. But many retailers and brands started dropping discounts weeks in advance, notably Currys, Argos, Very, John Lewis & Partners, Dyson and Boots.
Cyber Monday has surpassed Black Friday, bringing $1.8 billion more in sales
In 2021, consumers spent $10.7 billion on Cyber Monday and $8.9 billion on Black Friday. During peak hours, shoppers spent $12 million every minute. The pandemic has made last-minute Cyber Monday online shopping more accessible, with many people switched to working from home and having more time to search for the best deals.
Retail logistics and partnerships
To capitalise on sales opportunities businesses must spot and act on emerging tendencies and movements. If you don’t already have an Amazon Storefront, having a storefront will increase your chances of getting discovered by shoppers.
It is also worth noting that 59% of customers start their holiday shopping in August or September – 19% start shopping in August, 18% in September, 22% in October, and 24% in early November. So getting organised early puts you at an advantage, both in terms of cost and shipping availability.
If you want to discuss online retail logistics, online store fronts, ecommerce solutions, retail supply chain, storage, distribution, shipping – importing and exporting goods or components, please contact us for advice and competitive quotes – domestic quotes are turned around in an hour and international shipping up to 24 hours, depending on the complexity of the enquiry.
Call us on +44(0) 1622 237979 or email sales@tps-global.com