Black Friday Stats, Trends and Strategies for Small Businesses

Black Friday—it’s more than just another shopping event; it’s a yearly tradition that drives shoppers into a frenzy, with people camping outside stores and refreshing their carts online in anticipation of the best deals. Buyers are masters of strategy when it comes to grabbing the products they’ve been eyeing all year. But let’s flip the script for a moment—what about you as a seller? After hours of research on Black Friday trends, you’ve probably gathered countless Black Friday strategies—and now, you’re wondering which ones will really work.

via GIPHY

With so many strategies out there, getting lost in the noise is easy. While many businesses will try a variety of tactics, only some strategies will hit the mark. So, let’s zero in on the strategy that will truly set your business apart.

Without any further ado, let’s dive into the most effective statistics, trends, and strategies for your Black Friday campaign, and see what works best for you!

Black Friday Statistics You Need to Know

What’s all the Black Friday fuss really about? Just how much do consumers spend, and what are the retailers doing to boost sales? And how is this shopping frenzy evolving year by year? There are a lot of questions and you need to scatter around to find answers.

With Black Friday looming- brands go all in, pulling out every strategy and maximizing conversions. But what drives buyers, and how do they make their purchase decisions?

We’ve done the legwork for you and gathered some must-know Black Friday stats that show just how vital this day is for business owners.

• Black Friday 2024 and total holiday season sales are projected to grow by 4.8%, reaching $1.353 trillion in the United States alone.
• Mobile devices drove 70% of sales and 63% of revenue on Black Friday 2023, and this rate will substantially grow in 2024.
• “Buy now, pay later” orders increased by 72% during Black Friday 2023, a trend likely to continue in 2024.
• 54% of online orders were completed on mobile devices during Black Friday 2023, and 59% on Thanksgiving Day, totaling $5.3 billion in sales.
• High spenders, who comprise 27% of shoppers, contributed to 68% of total holiday season spending.
• In 2023, shoppers allocated 37% of their holiday budgets to in-store shopping, up from 35% in 2022.
• Online-only retailers (63%) and mass merchants (53%) were the top choices for shoppers.
• 78% of consumers planned to shop in the last two weeks of November, spending almost a third of their budgets during that period.
• The average shopping duration decreased to 5.8 weeks in 2023, down from 7.4 weeks in 2019, reducing the window for retailers to engage customers.
• 24% of consumers intended to start shopping early during October sales events.
• 66% of shoppers planned to shop during Cyber Five/commonly known as Cyber Week to tackle rising prices, up from 49% in 2022.

From there, you can predict the trends and meet customer expectations easily.

Read on for Black Friday trends, stats, and recommendations that’ll knock your holiday socks off.

7 Black Friday eCommerce Trends

Black Friday eCommerce has come a long way. Now, it’s about more than discounts—it’s about crafting an experience that hooks shoppers from the first click. But there’s more to it. Understanding the “why” behind each purchase is vital. What are customers looking for? Knowing what pulls customers in can guide your offers and Black Friday sales trends.

We’ve rounded up some interesting Black Friday trends for 2024, showing where shoppers are headed and where your biggest wins might be.

Optimize for seamless mobile experiences

In 2023, over 50% of Black Friday purchases came from mobile devices, with Thanksgiving seeing an even bigger surge. And this shift is only growing! Customers love the ease of shopping from their smartphones, so why not give them an experience that’s as smooth as it is irresistible?

Flexible payment: “Buy Now, Pay Later” (BNPL)

“Buy Now, Pay Later” (BNPL) alternatives have revolutionized online shopping, and they are especially popular around Black Friday. In 2023, BNPL orders jumped by 72% over the prior week during Black Friday. This trend appeals to budget-conscious buyers who want to spread out their payments without imposing interest. BNPL options such as Klarna or Afterpay can increase average order values and lower cart abandonment rates.

Early promotions and extended sales

The average shopping window has shrunk to 5.8 weeks in 2023, down from 7.4 weeks in 2019. Black Friday isn’t a one-day frenzy anymore—it’s a marathon. Retailers are kicking off their deals as early as October, aiming to grab the attention of shoppers who want to avoid the rush. Starting early means more chances to boost revenue and clear out inventory without the last-minute scramble.

Personalized marketing campaigns

Using AI and data, brands can now target customers with precise product recommendations and personalized offers. This helps boost conversions and improves customer satisfaction, especially during Black Friday, where showing relevant deals can drive more sales.

Omni-channel selling strategy

Multi-channel selling is a must for Black Friday success. Shoppers browse across platforms—Amazon, eBay, social media, and direct websites. A solid strategy ensures you reach them wherever they are. Keep inventory and pricing consistent, and use plugins/ tools that sync your channels for a smooth shopping experience.

Social commerce

Have you seen the way TikTok and Instagram are making a product unmissable sensation overnight? Well, social media platforms like Instagram, Facebook, and TikTok are now key sales channels. Influencer marketing is a powerful tool for creating viral, “sold out” moments easily. Black Friday is the ideal time to leverage it.

Service for latecomers

Not everyone jumps into the Black Friday frenzy right away. Some shoppers prefer to wait out the rush, looking for price drops or avoiding the crowds. Many of these latecomers shop between Black Friday and Thanksgiving, aiming to complete their holiday lists and prepare for Christmas.

14 Black Friday Strategies to Boost Sales

Instead of trying every tactic, focus on what’ll work for *YOUR* business—look at competitor moves, spot market trends, and study customer behaviors to shape a winning strategy. Get to know your audience, nail down a smooth shopping experience, and avoid the cart abandonment pitfall.

Here’s our take on some Black Friday strategies you might want to explore!

Prep your inventory and review your operations

Getting ready for the Black Friday madness? First, know your crowd and where your brand needs a little extra love. Dive into your inventory stats—what’s been flying off the shelves, and what’s been gathering dust? That’s your cue to plan killer discounts and irresistible offers.

Also, stock up smart! Over 26% of stores are bulking up their inventory based on last year’s trends. Don’t be the one scrambling for restocks when sales hit peak chaos. Prep like a pro, and let your shelves (and profits) stay full!

Define what, how, and when

After a deep dive into your stock and operations, it’s time to decide what to sell, how to sell it, and when to put up that sale sign. Early promotions gives you a headstart on this competitive sales event. The “what” helps determine which items best fit the seasonal demand; the “how” defines whether online, in-store, or a mix of both suits your audience. Black Friday isn’t just a one-day event anymore; it often rolls into Cyber Monday and even Cyber Week! And don’t forget, both online and in-store sale can bring more lucrative profit.

Ask your customers

Get the inside scoop on what your customers really want for BFCM—whether it’s price drops, bundles, or free shipping! Send a quick survey with a reward for filling it out, or take it to social media: run a “this or that” poll on Instagram with product photos. Not only is it fun and interactive, but it keeps your brand top-of-mind for the sale season.

Dedicated website customization

Website customization for Black Friday is your chance to make your brand stand out. From festive themes to tailored product displays, design your site to reflect the season’s excitement. Highlight Black Friday deals with custom banners, create dedicated sale sections, and personalize the user experience based on browsing history. Consider adding holiday-themed elements like countdown timers or special graphics to engage shoppers and guide them smoothly through the store.

Site performance

Preparing your website for Black Friday goes beyond just slapping up a sale banner. With heavy traffic expected, performance is key.

• Focus on optimizing site speed, and fixing any lingering bugs.
• Ensure seamless payment gateway integration.
• Mobile shoppers are on the rise, so a mobile-responsive design is crucial.
• Real-time stock updates create urgency, letting customers know when items are low or selling fast.
• Make sure your website and product table are compatible to adapt to heavy traffic.
• A fast, streamlined checkout is also key to keeping users moving smoothly through your store.

Omnichannel marketing for Black Friday

Letting holiday shoppers know about your Black Friday sale is vital, but it’s not as simple as it sounds.

Make the most of all marketing channels: email, SMS, social media (organic and paid), and Google Ads. Keep customers updated on upcoming deals, offer exclusive discounts to your email list, and SMS alerts. This multi-pronged approach ensures you capture attention across platforms and build anticipation for your sale.

Personalized email marketing strategy

Black Friday is near, so get the words out early! Get customers excited about your best deals and drive revenue. As the day approaches, offer exclusive discounts or early access to subscribers via email campaigns. Don’t forget to send targeted emails to cart abandoners, reminding them they can grab those items at sale prices now.

Retargeting ads that convert

Static ads alone often fall flat, but retargeting keeps customers interested. Ever noticed how similar products or discounts follow you online after browsing? That’s retargeting at work. For an edge, offer early access in retargeted ads to capture orders before competitors, and add countdowns or urgent CTAs to make those ads even more irresistible.

Personalized and AI-driven recommendations

Meet the “high spenders”—just 27% of shoppers but a whopping 68% of holiday sales! You already know your customers’ preferences inside and out—so why not use that data to help them build a complete set of products that go hand in hand? Use your data smartly to make these VIPs feel the love: analyze their purchase history and send them spot-on shopping coupons, loyalty programs, free shipping, or even a gift with their next buy.

Pro tip: Instead of offering just a pair of sunglasses, why not suggest a gift box for the holidays or a cleaning kit to boost durability? It’s all about enhancing their purchase with items that add value and functionality. AI-powered suggestions based on their recent purchases or browsing behavior can showcase related products that fit their style or needs. This not only makes their shopping more convenient but also helps them drive additional sales.

Use minimum purchase coupon

Online giants like AliExpress and Amazon often use minimum purchase discounts, like “$10 off $100,” to drive sales, or buy 2 get 1 free! And let’s face it, no one likes paying shipping fees for a single item. Customers often browse for other products to justify the cost, which is where personalized recommendations come in.

Applying this strategy to your store creates a powerful sales boost—and encourages purchases without making customers feel pressured or upsold.

Reduce shopping cart abandonment

When customers are about to leave without completing their purchase, trigger a pop-up with a personalized reminder to keep them engaged. Highlight a compelling reason to complete the purchase now, like, “This is the lowest price we’ve offered!” or “Free shipping available for this order!” Include a breakdown of discounts and even auto-apply an exclusive code to seal the deal.

Offer limited-time deals

Stocking up on special, limited-edition items for everyone isn’t practical—but here’s a better play. Bring in a selective batch or bundles, set a time limit, and create that “get-it-before-it’s-gone” buzz. To build hype, promote a pre-Black Friday preview with sneak peeks or teasers of the upcoming exclusives. This approach keeps demand high and ensures you’re ‘sold-out’ without over-investing and running your pocket empty.

Post-Black Friday services

Post-Black Friday services are just as crucial as the lead-up to the big day. After the sales rush, focus on keeping customers happy with quick order fulfillment, smooth returns, and responsive customer support.

Don’t forget the follow-up! Send post-purchase emails thanking customers, offer exclusive deals for future purchases, and notify them when products are restocked, especially if they missed out on Black Friday deals.

Nurture the leads post-Black Friday

Want to boost your email list and keep customers coming back? Add a simple form to your store’s checkout! Collect emails from customers at checkout or, when an item is out of stock, let visitors add it to their wishlist. Have them log in to get notified when it’s back—and don’t forget the power of an engaging pop-up or exit-intent form to capture even more leads.

Key Takeaways

Black Friday strategies may vary, but the basics stay the same: customers crave deals, bundles, BOGOs, and freebies, while brands are focused on creating urgency, offering unbeatable discounts, and turning browsers into buyers with exciting offers that can’t be ignored!

To make the most of this season, focus on a plan that drives sales without breaking the bank. Leverage e-commerce trends and reach customers across channels. Dynamic displays and table customizations, like Ninja Tables, can bring in-store excitement to your online store with engaging data visualization.

So, go ahead, plan your campaign, and make this Black Friday unforgettable!

Get In touch with Ninja Tables