The opportunity: Cyber Weekend
Black Friday & Cyber Monday
It’s never too early to prepare for the retail calendar’s biggest weekend of the year.
2022 showed us that consumers love a bargain, with shoppers spending more than $7.1bn in Australia alone; and with the current cost-of-living crisis we expect this to ring true again for 2023.
Expect Black Friday deals to be spread across the month of November, and consider the impact this has on Christmas spending.
In 2022, Shopify's sales peaked at more than $3.5million per minute globally.
Over the course of the weekend. 52million people bought from the platform, with clothing and accessories the primary category, followed by health and beauty and home and garden.
It’s only August. Why do you need to prepare now?
Customers will expect to be delighted by online experiences. Consider your site speed, current bounce rate, time on site, and other controllable factors that could be affected now to improve your conversion rate in just a few month's time.
What should you consider?
The global Black Friday sale market is predicted to be valued at US $1.123bn by 2032.
the clothing market had the largest revenue share in 2022 over cyber weekend, with christmas presents a close second sales-driver. Jewellery and footwear are other segments witnessing a rise in the past few years.
lucrative discounting is expected, this is not the time to test 10% off.
if your brand doesn't offer discounting, consider other incentives like a gift with purchase, unique capsule collection, or free shipping.
find ways to stand out from the crowd.
Create content specific to each of your hero channels.target specific consumers with appropriate advertising well ahead of the month of November to warm them up to your brand and guide their purchase decision.