Black Friday weekend has come to an end. Known as a retailer’s worst nightmare, yet most profitable weekend of the year, Black Friday weekend is the best time for the greatest deals and offers from all your favourite stores. In the USA alone, Black Friday amounts to 23% of annual sales! On Black Friday in the US this year, shoppers spent $6.22 billion, which is a staggering 24% increase compared to last year. Just through Shopify alone, customers spent $37 million per hour! It has been proven that the four most popular items people buy on Black Friday weekend are: mobiles, clothing, office supplies, and travel.
Cyber Monday is also a craze that is a part of Black Friday Weekend. Cyber Monday is an online version of Black Friday, where a consumer can find all the latest deals and discounts online from most retailers. Since Cyber Monday was introduced, foot-fall to stores has dropped, specifically by 1.7% since 2017, and 3.3% since 2016. It is estimated that Brits planned to spend £7 million on Black Friday and Cyber Monday! Furthermore, 62% of the British public planned to take part in this year’s Black Friday sales, which is almost double last year which was 36%. TNT conducted a survey which revealed that 94% of UK consumers would be tempted by Black Friday promotions, and 41% would prefer to shop online on Black Friday. This American tradition only recently landed in the UK a couple of years ago, however, it has taken the shopping industry by storm!
A prime example for how well Black Friday performs for UK business is one of our clients in the Electronics industry. This British company saw a 148.7% increase in revenue online from PPC alone. This company also saw a 57% increase in impressions and a 647.4% increase in clicks! Finally, the conversion rate also increased by a whopping 1014%!
Black Friday is usually the highest performing day for most businesses regarding sales and revenue, but for some, Cyber Monday is just as effective. Our next client, in the nutritional supplements industry, achieved a 50.6% increase in revenue this Cyber Monday compared to Black Friday. From Google Analytics, we can also see that Cyber Monday has been the most profitable day to date for this business.
Still not convinced Black Friday Weekend is worth taking part in? You can see your business grow to its potential in just one weekend. There are multiple different offers and discounts any type of business can offer to consumers in order to purchase products or a service from you. This manic weekend is becoming bigger each year, and we strongly urge you join in next year, even if it is to trial a sale, join in, and see what your business can gain!
Want to grow your business? Or maybe you just want a chat about the marketing solutions we offer… Call us today on 0113 833 0415 and one of the team will be more than happy to help.