The phrase “it’s almost Black Friday” can make you shudder if you’re a marketer or business owner. However, we have you this year. To help you have the greatest sale season yet, we have compiled the top Black Friday and Cyber Monday statistics and trends.
Let’s go shopping for some statistics to improve your BFCM marketing approach, so grab your virtual cart.
BFCM: What is it?
Important data about Black Friday trends and marketing
BFCM 2023: Data on consumer expenditure
Black Friday advertising and smartphone sales data
The benefits of including SMS in your Black Friday marketing strategy
BFCM: What is it? Black Friday Cyber Monday, or BFCM for short, is one of the world’s largest shopping occasions. The majority of people associate Black Friday and Cyber Monday with a crazy shopping weekend. BFCM, on the other hand, offers entrepreneurs a fantastic chance to increase sales and attract new clients.
Everything begins on the fourth Thursday of November, the weekend following Thanksgiving. The unofficial start of the holiday shopping season is BFCM.
Important data about Black Friday trends and marketing
Global spending hit a record in 2023, and mobile shopping dominated the market. Additionally, firms adapted their Black Friday marketing and communications to capitalize on consumers’ smartphone habits.
BFCM 2023: Data on consumer expenditure
The BFCM 2023 season saw a significant increase in sales over 2023. Some of the highlights of consumer expenditure are displayed in the statistics below:
Black Friday sales reached a record $9.8 billion, according to Adobe Analytics, a 7.5% rise over the previous year.
Consumers spent $12.4 billion on Cyber Monday, up 9.6% from 2022.
Early sales were well received by clients. Fifty-five percent of shoppers benefited from early holiday discounts. In contrast, 35% went shopping in the week before Thanksgiving.
In the third quarter of 2023, e-commerce expanded by 7.75%. although overall retail increased by 2% annually.
While in-store sales rose 1.1%, Black Friday eCommerce sales climbed 8.5% annually.
Cyber Week saw an average of 30% discount from retailers. In comparison to 2022, average selling prices increased by 4% in 2023 for all categories.
Since 2019, Black Friday has been the largest sales day, with online sales surpassing Cyber Monday.
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Black Friday advertising and smartphone sales data
Last year, mobile advertising was by far the most popular among marketers. Additionally, given how many customers make purchases using their mobile devices, it makes sense as an approach. The possibilities for mobile advertising this year is demonstrated by the following statistics:
In 2023, global spending on mobile advertising reached a record $362 billion.
By 2024, experts predict that mobile ad expenditure will reach around $400 billion.
By 2030, the size of the mobile marketing market is anticipated to have grown fivefold.
Currently, mobile accounts for over 64 percent of all digital ad spending.
In terms of overall spending, the United States continues to be the largest mobile ad market.
The benefits of including SMS in your Black Friday marketing strategy
Marketing for Black Friday Friday is packed. Since every campaign and message matters, SMS has emerged as a crucial component of any BFCM strategy. Examine the statistics:
Of those who receive a text message with a call to action, 47% make a purchase, and one in three take action.
With a 98% open rate for SMS and a 45% open rate for emails, text messages are opened by far more people than emails.
Emails receive only 6% of responses, whereas SMS messages receive 45%.
Click-through rates for cart abandonment SMS are 36% higher than those for email, indicating that consumers are more likely to reply to the former.
Compared to other channels, text-delivered coupons are redeemed ten times more frequently.
Promotional coupons are seen by half of customers as the most useful SMS texts they get.
Within three minutes, 90% of texts are opened.
Brands are being texted by more customers: 25% of Generation Z and 30% of millennials report having texted a brand.
Transactional SMS is preferred by over 50% of consumers over other customer service channels.
Fifty percent of SMS marketing messages with a call to action are considered “useful” by consumers.
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Use SMS to increase Black Friday sales.
This sale season, do you want to use text messaging into your marketing strategy? We can assist you in preparing for Cyber Monday, Black Friday, and other events. Try text texting for yourself by registering for a free trial. Our support staff is available online around-the-clock to assist.
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