Black Friday & Cyber Monday 2020: Stats to Help Prepare Your eCommerce
What is Black Friday Going to Look Like in 2020?
While you may not see hoards of people rushing into stores (will anyone really miss that?), that’s not going to stop people from participating hard in Black Friday and Cyber Monday deals. There’s been a trend of increased online shopping this year that will play big into this year’s understanding of how people will shop on Black Friday and Cyber Monday.
We’ll first look at how online shopping has changed over 2020, and then look at some projections for how users are expected to shop over Black Friday and Cyber Monday.
Increase in Online Shopping in 2020
We’ve seen an increase in online shopping in 2020 like no other. There are a couple of reasons that you can safely assume are reasons why this is happening, but it’s good to consider them when tailoring your marketing strategy.
- People are shopping online to stay safer! They’re avoiding crowds and stores and hoping to safely shop online.
- There’s some level of intrinsic happiness that shopping online gives people. We’ve seen people desire to order and receive something new, fresh, and exciting and bring it into their home.
When you think about your marketing strategy, you can use both of these options as a way to appeal to your users. You could show them how you’re safely packaging their items and how convenient it is to be delivered. On the other hand, you could show the joy brought when you purchase or send a gift from your store. Think about
Increase in Black Friday Spending
According to Finder.com, we’re expected to see Americans spend $148.5 billion this year on Black Friday/Cyber Monday. Spend on furniture is most likely to be the highest, with appliances, electronics, and travel following suit. During the pandemic, we’ve seen people tend to do more work towards DIY and other home improvements, but it’s interesting that we can expect a similar spend in travel as we had in 2019.
Who Spends the Most on Black Friday?
When we look at the information gathered, we see that men actually tend to spend more during Black Friday and Cyber Monday. On average they tend to spend more on electronics and gadgets, as well as sporting and outdoor equipment, according to Finder.com.
Looking at where women spend their money, the largest category is actually furniture, followed by appliances and travel.
When it comes to age groups, Finder is projecting that Millennials will have the highest spending amount, followed by Gen X, and then Gen Z. Just because millennials are projected to spend the most, you shouldn’t sleep on the rest of your audiences.
What Does This Mean For You?
As a business, you generally know that Black Friday and Cyber Monday are going to be high traffic days for you. Now your task is to figure out the best way to optimize your website and digital marketing strategy based on these stats.
Think about what audiences your business appeals to and the best mediums to reach them. Maybe it’s social media marketing to appeal to Millennials. If you’re looking to appeal to Gen Z, look at AI conversion tactics like gamification through Justuno. To appeal to Gen X, make sure you’re posting on platforms like Pay-Per-Click Ads, Facebook and running email marketing.
No matter who you appeal to, it’s important that you optimize your website for shopping overall. You can use things like One Click checkout with Fast.co, add customer reviews through Yotpo, or implement a tracking program like Route. Make sure you’re getting the best rates and for shipping and streamlining your process with apps like Shipstation.
Remember to prepare for post-cyber weekend sales opportunities by capturing emails for future marketing through Klaviyo or Justuno and even include referral programs like FriendBuy.
All in all, one of the most important takeaways regarding these statistics is that Black Friday and Cyber Monday are still happening and customers are still expecting to shop. That means you should be ready! Prepare your website for an uptick in traffic, think about what type of promotion you’d like to run, and advertise it!
Other Ways to Prepare for Black Friday and Cyber Monday:
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