Black Friday & Cyber Monday 2024: What Shoppers Want and How Retailers Can Win

Predictions for Black Friday and Cyber Monday (BFCM) 2024 suggest significant consumer engagement:

• Online shopping intentions — around 64% of consumers plan to shop online during the BFCM 2024 season, continuing the shift towards eCommerce as a primary shopping method. This figure is bolstered by the fact that over 90 million people shopped online during Black Friday 2023, and the number is expected to rise.
• Increased spending — consumers plan to spend an average of $567 during the BFCM period, representing a 13% increase from 2023. This indicates strong demand despite economic challenges, with shoppers looking for discounts and tailored offers.
• Mobile commerce share — mobile devices are expected to account for nearly 80% of traffic during the BFCM season. This highlights the importance of mobile optimization as mobile shopping becomes the dominant purchasing channel.

Black Friday and Cyber Monday 2024 present massive opportunities for online retailers, but success requires thoughtful planning and execution. Follow the steps below and prepare thoroughly to ensure your business is on the way to a successful BFCM 2024 season.

1. Optimize for mobile shopping

In 2023, mobile commerce accounted for nearly 80% of all Cyber Week traffic. This means most of your potential customers will shop from their smartphones or tablets during BFCM 2024. Ensuring your website is mobile-friendly is essential for converting these visitors into buyers.

Action plan:

• Mobile optimization — ensure your website is responsive, fast-loading, and easy to navigate on mobile devices.
• Mobile checkout — streamline the checkout process with mobile payment options like Apple Pay, Google Pay, and PayPal to reduce cart abandonment.
• Mobile apps — if you have a mobile app, incentivize app use with exclusive deals, as app users are more likely to become repeat customers.

2. Leverage Early Shopping Trends

Early shopping is becoming the norm, with retailers starting promotions well before the official Black Friday date. In 2023, early-bird sales spanned several weeks, and this trend is only expected to grow.

Action plan:

• Start promotions early — begin offering early Black Friday deals in early November to capture shoppers eager to start their holiday shopping early.
• Pre-launch campaigns — build anticipation by offering sneak peeks, VIP access, or early-bird discounts to your email subscribers and social media followers.

3. Personalize Shopping Experiences Using AI

Personalization has been proven to boost engagement and sales. AI-driven product recommendations, personalized offers, dynamic pricing, and content can significantly improve conversion rates.

Action plan:

• Personalized deals — use data analytics and AI tools to send tailored offers based on customer browsing history, preferences, or past purchases.
• Segmentation — segment your audience by behavior and demographics to ensure your messaging resonates with different groups (e.g., price-sensitive shoppers vs. brand loyalists).

4. Embrace Social Commerce

Social media platforms are increasingly becoming key drivers of eCommerce, especially among younger demographics. Platforms like Instagram, TikTok, and Pinterest offer shopping features that make it easier for users to discover and purchase products.

Action plan:

• Social media ads — run targeted ads on social media channels to promote your Black Friday deals, using video content and influencer partnerships to increase engagement.
• Shoppable posts — utilize features like Instagram Shopping or TikTok’s “Shop Now” buttons to streamline the purchasing process directly from your posts.
• Influencer collaborations — partner with influencers to amplify your promotions and build trust with potential customers.

5. Offer Flexible Payment Options (BNPL)

Buy Now, Pay Later (BNPL) services like Klarna, Affirm, and Afterpay are rapidly growing in popularity. In 2023, BNPL orders increased by 85% during Cyber Week. Shoppers are looking for flexible payment options to manage their holiday spending.

Action plan:

• Integrate BNPL options — make sure to offer BNPL as a checkout option, especially for higher-ticket items. Highlight these options in your marketing to appeal to budget-conscious consumers.
• Multiple payment methods — beyond BNPL, ensure your store accepts various payment methods, including mobile wallets and crypto, if applicable.

6. Provide Competitive Discounts

Shoppers expect deeper discounts during Black Friday and Cyber Monday. In 2023, the average discount was 31%, with electronics, toys, and apparel leading the pack. However, competition is fierce, and standing out can be a challenge.

Action plan:

• Offer tiered discounts — create tiered discounts (e.g., “Spend $100, get 20% off”) to encourage higher cart values.
• Exclusive deals — offer exclusive discounts for loyal customers, newsletter subscribers, or app users.
• Flash sales — implement time-sensitive flash sales to create a sense of urgency and drive impulse purchases.

7. Use Multi-Channel Marketing

In 2024, simply relying on paid ads will not be enough. While they still account for a significant portion of traffic, their effectiveness is waning due to rising costs and privacy changes. Owned channels, like email, SMS, and push notifications, are increasingly important.

Action plan:

• Email marketing — send targeted emails highlighting your best deals, early access offers, and exclusive discounts.
• SMS marketing — leverage SMS campaigns for last-minute reminders or time-sensitive offers to boost conversions during peak shopping hours.
• Push notifications — use push notifications (especially on mobile apps) to nudge customers about limited-time deals or restocked items.

8. Focus on Customer Retention

BFCM is not just about acquiring new customers. It’s also a prime opportunity to convert one-time shoppers into long-term customers by offering excellent post-purchase support and re-engagement strategies.

Action plan:

• Post-sale follow-ups — send thank-you emails, encourage product reviews, and offer incentives for future purchases to build customer loyalty.
• Subscription offers — promote subscription services for repeat orders (e.g., monthly product shipments or memberships) as a way to lock in future revenue.

Now is the time to start preparing. Optimize your website, plan your promotions, and engage your audience across all touchpoints to make the most of the busiest shopping season of the year.