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Key Takeaways
- The early projections suggest that the Black Friday sales market could reach $278,645 billion in 2024.
- 64% of shoppers worldwide intend to shop on Black Friday or Cyber Week.
- This year, the Buy Now, Pay Later spending on Cyber Monday is projected to be around $993 million.
- The YoY Cyber Monday sales will increase by 6.1% in 2024.
- Nearly half of shoppers plan to purchase items on Black Friday from a mobile device.
- The average discounts on products from TV, toys, sporting goods, and apparel categories are expected to be around 30%.
- According to Adobe’s Black Friday study, 2 out of 5 participants plan to use generative AI to discover the best offers for the items they want to purchase.
- Electronics, Cosmetics, and Clothing are among the most popular product categories during Black Friday.
When is Black Friday 2024?
The date varies each year, but Black Friday is always on the last Friday in November, a day after the American Thanksgiving.
This year, the Black Friday shopping event will take place on November 29. The following Monday, December 2, and the so-called Black Friday weekend present another major ecommerce opportunity. On Cyber Monday alone, shoppers are expected to spend approximately $13.2 billion.
These terms were coined and popularized by ecommerce retailers to differentiate between Friday in-store sales and Monday online sales.
Many ecommerce businesses continue offering deals during the following days or weeks to maximize profit. This period is often referred to as Cyber Week or Black November. You should consider it, too, when planning your international marketing campaigns and SEO strategy.
The significance of Black Friday sales in ecommerce
Black Friday and Cyber Monday are no longer primarily in-store shopping events. In fact, most shoppers head online to search for the best Black Friday deals.
Consequently, free shipping, fast delivery, and excellent product reviews are among the key factors shoppers consider before buying an item on Black Friday.
The statistics show that Single’s Day is still the most significant global shopping event of the year in ecommerce. However, it’s difficult to estimate the sales revenue as Alibaba and other major online retailers haven’t made this information public.
Black Friday sales projections for 2024 indicate that the number of shoppers intending to purchase items online or at a brick-and-mortar store during Cyber Week is growing, making it one of the most significant global sales events.
Over two billion people will shop online during this year’s Black Friday and Cyber Monday, while the average spending budget is estimated at approximately $900 per person.
These figures show that sellers on online marketplaces like Amazon or eBay cannot afford to overlook this shopping event and prove that discounting items in their online stores in the days and weeks before or after Black Friday is worth prioritizing in their sales strategy.
How has Black Friday changed in recent years?
The COVID-19 pandemic has rendered the distinctions between Black Friday and Cyber Monday irrelevant. Retailers moved away from typical “doorbuster” bargains after authorities banned large crowds from public spaces worldwide.
‘Doorbuster’ offers were massively discounted items that would entice crowds to the brick-and-mortar stores and have them queue up in front of their doors hours before they opened.
Nowadays, shoppers can find Black Friday doorbuster deals online and browse special offers on their computers or mobile devices. So, it’s hardly surprising that Black Friday online sales in 2023 were the largest in Amazon’s decades-long history.
The trend is likely to continue in 2024. Amazon has expanded its returns policy in preparation for the holiday season, enabling shoppers to return all items purchased from November 1, 2024, until the end of January 2025.
The extension of the returns deadline will have a positive impact on sales, as consumers shopping online will feel more confident purchasing an item, knowing they have additional time to return it.
As a result, close to 20% of all online sales during Black Friday and Cyber Monday are expected to take place on Amazon.
Best-selling product categories and Black Friday deals in 2024
YoY sales during the holiday season in the United States are projected to increase by 8.4% compared to 2023. Considering how impactful the 2023 holiday sales season was, these numbers seem more than impressive.
The bestsellers from the 2023 Black Friday shopping season were products from toys, apparel, TV sets, appliances, and furniture categories. The latest data suggests that the same types of products will continue to dominate online sales on Black Friday and Cyber Monday this year.
Lego and Fisher-Price Little People sets are among the most sought-after products from the Toys category, while iPhone 16 and Samsung Galaxy S24 Ultra are among the most popular appliances.
It’s also worth noting that according to a report published by Adobe, the demand for products from the following categories will increase in 2024:
- Electronics (8.5% YoY)
- Cosmetics (7.3% YoY)
- Apparel (5.8% YoY)
- Toys (5.8%)
- Sporting goods (5.5 YoY)
How to prepare your online store for Black Friday shopping?
While Black Friday typically marks the beginning of the holiday shopping season and an opportunity for substantial revenue, making a large profit during this period is not a given.
This year, you also need to consider the economic landscape, geopolitical situation, and the shadow of a recession looming over consumers and their spending budgets.
Here are some of the key challenges online sellers should consider when preparing for Black Friday in 2024.
#1 Black Friday ecommerce tip: Format your offer in the Cyber Week spirit
Over a third of online shoppers in the United States buy products they didn’t plan to get on Black Friday. Such a high number of impulse purchases indicates that a sense of urgency already drives Black Friday sales.
Think strategically about your Black Friday exclusive deals to reel as many impulse buyers in:
- Keep every detail in your online store in the spirit of the Black Friday and Cyber Week. Don’t be afraid to use intense colors like black, yellow, and red.
- Consider adding a countdown clock to emphasize that a deal is time-sensitive.
- Think of queries that can be used to search for bargains and use relevant keywords in your offer descriptions and Black Friday ads. Doing so will increase your chances of appearing in search results and catching your customers’ attention.
- Use simple text formatting to highlight the discount rate. Bold rather than underline the text, and keep the font size large to emphasize the crucial part of an offer.
- Offer your products individually and in bundles at more affordable prices.
- Make sure your listings are available in mobile shopping apps. During the 2024 holiday season, mobile device purchases will grow by 12.8% compared to 2023, generating approximately $128 billion in sales.
- Don’t neglect the power of social media, as 48% of people planning to make a purchase during Black Friday sales events will use social media to search for the best deals
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#2 Black Friday ecommerce tip: Set the right product prices to drive Black Friday online sales
The pricing strategy can go a long way in helping your business attract customers on different digital markets, offering them value and ultimately determining your company’s profitability.
Although setting the prices for Black Friday and Cyber Monday may seem intimidating and confusing, there are only a handful of simple rules you can rely on to determine the right pricing strategy for the upcoming Cyber Week.
Do your research! You should always be aware of your competitors’ prices. If you don’t check them habitually, Black Friday is the perfect moment to start monitoring the current price ranges of products identical or similar to those in your online store.
After all, shoppers compare deals and look for the best ones, so if your items are too expensive compared to other sellers’, shoppers will buy them elsewhere.
Take a look at average Black Friday discount rates across popular categories based on data from 2024 published by Adobe:
- 30% for electronics
- 27% for toys
- 24% for TV sets
- 23% for apparel
- 23% for computers
- 19% for furniture
A considerable number of Black Friday shoppers go online to find better deals than the ones they got at the stores they visited in person. Consequently, it is crucial to monitor both your online and offline competitors closely.
Use this information to your advantage and be ready to offer a discount that’s competitive enough. After all, an ecommerce store is cheaper to operate than a brick-and-mortar store, so you should have some advantage when setting up discounts.
One trick we don’t recommend is inflating prices right before Black Friday to create a fake price drop later. Such tricks are easy to spot and might ruin your reputation. Don’t forget that online comments and reviews can be merciless!
Moreover, trust is worth everything in ecommerce because winning customers back is nearly impossible once you betray their trust.
#3 Black Friday ecommerce tip: Think locally, sell globally
Cross-border trade is growing twice as fast as domestic, underscoring the immense potential for global sales. However, tapping into global markets during the Black November shopping frenzy can present unique challenges for online sellers.
In addition to managing high-demand sales and supply chain logistics, international sellers must consider factors like currency fluctuations, customs regulations, and regional shopping preferences.
What are the challenges facing online businesses selling on a global scale on Black Friday 2024?
It’s not always easy to anticipate potential obstacles your business may face during Black Friday, Cyber Monday, and the ensuing holiday season.
Hence, you should take the time to identify the weak spots in all aspects of your operations, from product quality to delivery times, months before the start of the holiday season to ensure you’re ready for the busiest time of the year in ecommerce.
Let’s go through some of the key challenges you should address to increase your sales on Black Friday.
- Unify prices across all platforms if you’re selling on multiple international markets.
- Provide accurate translations and localization of product descriptions. Remember to check the sizing and metric systems used in descriptions, as they vary from country to country.
- Increase security by setting accurate shipping dates. You should also consider introducing competitive shipping rates and providing reliable parcel tracking.
- Review your return policies. Research suggests that 58% of online shoppers want a hassle-free, “no questions asked” return policy.
Are you open to trying those ideas for Black Friday but worry you lack experience selling goods outside your local market?
To maximize your international sales potential effortlessly, consider leveraging trusted management solutions designed for online sellers looking to expand their marketplace business globally.
Cutting-edge tools can navigate you through the challenges of international selling and let you confidently embrace Black Friday and other ecommerce opportunities.
Black Friday takeaways for online sellers
Whatever challenges Black Friday and Cyber Monday 2024 bring, strategize ahead and prepare for them. In 2024, millions of shoppers worldwide will go on a Black Friday shopping spree and spend billions of dollars in the process.
Black Friday is a major opportunity for online sellers that kicks off the holiday shopping season and can generate significant profits.
So, it’s easy to see why you should prioritize it. Hopefully, our article will help you make the most of this opportunity and boost your sales on Black Friday and the entire holiday season.
About Webinterpret
Webinterpret supports merchants selling on big, international ecommerce platforms, such as eBay and Amazon, as well as local marketplaces. Our AI-based solution enables selling more effectively with automated listing localization, advertising, and logistics (shipping and returns).
By giving your international customers a full end-to-end local shopping experience, Webinterpret improves your conversion and helps establish your business on a global scale.
Our marketplace offer is constantly expanding. If you want to grow your online sales, feel free to contact our sales experts. They will help you analyze your international sales potential and choose markets that will offer you the best possible return on investment.
