Black Friday is quickly approaching, and if you haven’t started thinking about your marketing activities yet, it’s time to jump on it. However, before you can jump into the creative process, you need to take the time to study last year’s trends and stats to create marketing campaigns that will perform.
“Keep in mind, Black Friday is still one of the most important retail shopping days of the year, and you’re going to have a lot of traffic both in store and online,” said Mechele Agbayani Mills, President and CEO of BBB Central East Texas. “Making the most of it creates huge opportunities for businesses to increase their sales and strengthen relationships with new and existing customers.”
BBB provides the following stats to help you plan your Black Friday strategy.
75% of consumers say free shipping is a key influence in their buying decisions on Black Friday
Free shipping is a huge factor in consumer decisions regarding Black Friday. 75% of consumers say that free shipping will most likely lead them to purchase. When it comes to making the most of their savings, consumers head online to search for the best deals on specific products and don’t want to have to pay for the added convenience of not having to leave their homes to shop.
73% of men say that Black Friday is a great day for deals, compared to 67% of women
When people think of Black Friday shopping, most assume females will be the ones to take full advantage of getting up and heading out to save a few bucks. 73% of men stated that if presented with the right deal, they could be convinced to shop Black Friday deals compared to 67% of women.
Shoppers aged 18-24 are most likely to shop Black Friday sales (64%)
Young shoppers are the most likely to shop for Black Friday deals. In fact, 64% of shoppers aged 18-24 stated they plan to shop Black Friday sales. This is especially true for in-store shopping, as older generations don’t really care to stand in long lines or wait in traffic to save a few dollars.
Brick-and-mortar retail is expected to grow to approximately $22.6 trillion by 2026
Brick-and-mortar retail is expected to increase to over $22.6 trillion by 2026. Retail sales have continued to grow since the global pandemic, and the return to in-person shopping has contributed to over 80% of spending in 2024.
E-commerce sales are expected to grow over 8% — totaling approximately $1.2 trillion
E-commerce sales will grow by over 8%. Millions of Americans plan to take advantage of various shop-at-home specials this year.
Cyber Monday is forecasted to outperform Black Friday, with revenues forecasted to exceed $13 billion
While many businesses plan to include online sales as part of their Black Friday marketing strategies, Cyber Monday is, again, expected to outperform Black Friday sales. This is because Cyber Monday has earned its reputation for online holiday deals. However, with more shoppers still choosing to make online purchases this holiday season, the right deal could convince your audience to purchase on Black Friday instead of Cyber Monday, so you must perform the right research to see what your competitors are planning.
79% of all online shopping was done on smartphones
In 2023, approximately 79% of all online shopping on Black Friday and Cyber Monday was done via a smartphone. What does that mean for your small business? If you have an online presence, you need to ensure your website is mobile-friendly and easy for consumers to use. Otherwise, you risk losing business to the competition.
80% of consumers check text messages within five minutes
Considering a social media campaign this Black Friday? It could prove more beneficial than you may think! A 2023 survey of 1,400 participants, including consumers, business owners, and digital marketers, revealed that over 80% of consumers check text messages within five minutes. That’s genuine engagement that can help boost not only sales but also brand awareness and lead generation.
— BBB is a nonprofit, business-supported organization that sets and upholds high standards for fair and honest business behavior. Most BBB services to consumers are free of charge. BBB provides objective advice, free BBB Business Profiles on more than 5.3 million companies, 11,000 charity reviews, dispute resolution services, alerts and educational information on topics affecting marketplace trust. Visit bbb.org for more information. BBB Serving Central East Texas was founded in 1985 and serves 19 counties.
