Five Black Friday Stats that Brands Can Use to Have a Great Holiday $eason
Whether you’re a small or mid-sized business or a larger enterprise, Black Friday tends to be a pretty big deal. Here are some facts businesses making last-second Black Friday preparations should keep in mind:#1
2012’s Cyber Monday will be the biggest ever. Adobe’s Digital Index 2012 Online Shopping Forecast is predicting that online sales will hit $2 Billion this Cyber Monday, an 18% uptick over 2011’s figures.#2
Shopping overall will be up. 60% of respondents to a Deloitte survey indicated they plan to do at least some of their holiday shopping across brick & mortar or online during the upcoming weekend. That’s up 51% from 2011. Survey respondents indicated that they will be spending, on average, 28% more than they did last year over this same weekend.#3
Black Friday is increasingly moving online. According to topcashback.com, 71% of American respondents believe the best Black Friday deals can be found online. Cyber Monday and Black Friday will be blurring into one another move than in previous years, so brick & mortar retailers will be actively looking to promote their in-store deals on Monday as well.#4
Black Friday isn’t just a business opportunity for impulse purchases. According to CNN, Black Friday may be the best time to go out and pick up a new car. The average car discount around Black Friday is expected to be 7.5%, compared with an average of 4.7% during the course of the year.#5
Commerce will be up across all channels for the whole season. Holiday spending should rise about 4.1%, at least according to the National Retail Federation. That’s $586.1 Billion total, or about 195.3 Billion burgers at Sonic Drive-In.
Increasingly, retailers will leverage their social channels across Facebook, Twitter, and other platforms, letting shoppers know in real-time about updates on deals and store hours. Apps are increasingly becoming a platform for retailers to communicate value to customers. Wal-Mart, for instance, is giving consumers who download the company’s app preferred access to special Black Friday sale items. Macy’s is using a Black Friday app allowing customers the opportunity to shop for store-specific Black Friday deals. The app, which is part of a partnership with eBay, will let customers create shopping lists to save and share with friends.
If you haven’t developed an app for communicating with your customers, you probably aren’t going to have one available by Friday. But, if you’re a small company with an opportunity to put together an offer, or if you have an offer already prepared, don’t feel shy about putting it in front of customers. This is one of the few times of the year where being shamelessly promotional is hardly frowned upon. The above statistics should clearly let you know that this coming weekend has the opportunity to be a big part of your B2C plan for the year.
And, hey – if you happen to think of the best Black Friday, Cyber Monday, or holiday campaign, but don’t have the time to execute it at this point? Write it down! As big as 2012 will be, you have the opportunity to make your 2013 even more memorable.