How to Win Big on BFCM Season – LitCommerce In-Depth Research & Guide

The Black Friday and Cyber Monday (BFCM) season is one of the most critical periods for businesses, especially those in retail and eCommerce. With millions of shoppers looking for the best deals, businesses have a unique opportunity to boost their sales and attract new customers.

Why BFCM Matters for Your Business

The impact of Black Friday and Cyber Monday

Black Friday and Cyber Monday have evolved into a global shopping phenomenon that generates billions of dollars in revenue every year. What started as a day for in-store deals has now expanded into a massive online event, with retailers offering discounts not only for the day but for the entire weekend and beyond. This shift has led to an increasing number of businesses participating.

For online retailers, BFCM represents a significant portion of their annual revenue. Let’s have a look at some fantastic numbers based on a recent report:

• In 2023, Black Friday generated approximately $9.8 billion in online sales, while Cyber Monday reached around $11.3 billion. This growth reflects a broader trend where online shopping continues to dominate, with global online sales increasing by 8% year-over-year during these events.
• A notable trend is the increasing reliance on mobile devices for shopping. In 2023, mobile traffic accounted for 79% of eCommerce during Cyber Week, indicating a shift in consumer preference towards mobile platforms for convenience and speed. This trend necessitates that online businesses optimize their websites for mobile users to capture this growing market segment.
• The report also reveals that 64% of consumers plan to shop online during these events in 2024, with many starting their holiday shopping as early as Thanksgiving evening. This indicates a shift towards earlier purchasing behaviors and highlights the importance of businesses being prepared for increased traffic.

Key consumer behavior trends during BFCM

1. Increased mobile shopping

Mobile shopping continues to dominate during BFCM, and the trend is only growing stronger. In 2023, mobile devices accounted for 54% of all online sales, and experts predict that up to 75% of consumers will engage in mobile shopping in 2024.

Moreover, a significant number of consumers, particularly from Gen Z, prefer using mobile apps over mobile-responsive websites for shopping. In 2023, 43% of Gen Z shoppers opted to download apps, seeking a more personalized and streamlined shopping experience.

2. Early shopping trends

Shoppers are also starting their holiday shopping earlier each year. In fact, 56% of consumers begin researching products as early as October, driven by the desire to compare prices and secure the best deals.

Along with starting early, most consumers are budgeting for their BFCM purchases. Around 82% of shoppers set a budget for BFCM, with most falling within the $100 to $500 range. This structured planning indicates that many consumers are looking to make the most of their spending, prioritizing the best possible deals.

3. Selective buying behavior

Consumers during BFCM are becoming more selective and deliberate with their purchases. Approximately 74% of shoppers plan to spend extra time researching products to ensure they are getting the best deal available.

However, cart abandonment remains a challenge for businesses.

Consumers during BFCM are becoming more selective and deliberate with their purchases. Approximately 74% of shoppers plan to spend extra time researching products to ensure they are getting the best deal available.

However, cart abandonment remains a challenge for businesses. Roughly 19% of shoppers abandon their carts while searching for better deals, and 15% delay their purchases, waiting for products to go on sale. This shows the need for businesses to address potential concerns during checkout and use tactics like reminders or limited-time offers to reduce abandonment rates. This shows the need for businesses to address potential concerns during checkout and use tactics like reminders or limited-time offers to reduce abandonment rates.

4. Decline in social media influence

Interestingly, the impact of social media on BFCM shopping is on the decline. Fewer shoppers are learning about deals through platforms like Facebook and Instagram compared to previous years, which suggests that businesses may need to reconsider their social media strategies for BFCM marketing.

(Statistic source from Loyalty Lion)

Early Preparation is Key

To truly capitalize on BFCM, businesses must begin preparing well in advance. Successful brands don’t just launch their promotions the week of Black Friday; they begin planning weeks, even months, before to ensure that every element of their campaign is fine-tuned for maximum impact.

Planning promotions and offers in advance

The backbone of any successful BFCM campaign is well-planned promotions. Start by defining clear goals: are you looking to boost sales, clear out inventory, or acquire new customers? Once you’ve set your objectives, craft offers that are tailored to meet them. Consider offering tiered discounts, where the more customers spend, the bigger the discount they receive, as this can increase your average order value.

Additionally, exclusive bundles and flash sales during specific time frames are effective tactics. Planning your offers ahead allows you to test them out before BFCM, ensuring that you can adjust based on initial feedback from smaller promotions.

Inventory management and stock forecasting

One of the biggest mistakes businesses can make during BFCM is running out of stock. Accurate inventory forecasting is critical to meet the surge in demand. Analyze data from previous years, consider current trends, and adjust your stock levels accordingly. Using tools that integrate inventory management with your eCommerce platform can also help you avoid overselling or having to issue refunds.

Additionally, having backup plans for your most popular items (like introducing waitlists or restock notifications) can help mitigate customer frustration in the event of sellouts.

Teasing your sale to build anticipation

Building anticipation for your BFCM sale is just as important as the sale itself. Successful brands start creating buzz early through teaser campaigns on social media, email, and even SMS marketing. Announcing upcoming discounts and creating excitement with countdowns can engage customers and motivate them to start adding items to their wish lists.

For instance, offering early-bird discounts to subscribers or loyal customers can help you gain a competitive edge. These strategies not only create excitement but also give your brand more visibility ahead of the major shopping days.

Choose the Right Sales Channels and eCommerce Platforms During BFCM

Six online marketplaces that buyers shop the most during BFCM

1. Amazon

Amazon continues to dominate BFCM shopping, accounting for around 40% of U.S. sales during the BFCM week in 2023. Its vast product selection, fast shipping options, and reliable customer service make it the go-to marketplace for many. Amazon’s Prime membership and exclusive deals drive significant consumer interest, leading to a 180% increase in repeat purchases.

2. eBay

eBay appeals to BFCM shoppers looking for both new and used items, with its mix of auction and fixed-price sales. Known for competitive pricing, eBay also benefits from a global reach, allowing consumers to shop internationally during the event.

3. Walmart

Walmart’s omnichannel strategy, combining online and in-store shopping, attracts BFCM shoppers seeking convenience. Offering curbside pickup and same-day delivery, Walmart remains competitive through its low-price strategy, appealing to budget-conscious consumers.

4. Best Buy

Focusing primarily on electronics, Best Buy sees a significant uptick in sales during BFCM, catering to tech enthusiasts. Its in-store pickup options enhance the shopping experience by giving customers instant access to their purchases after online orders.

5. Target

Target’s strong promotional strategies and exclusive BFCM deals attract younger shoppers and families. The platform’s seamless mobile app and personalized offers further enhance the shopping experience during this critical season.

6. Etsy

Etsy stands out for unique and handmade products, making it a preferred marketplace for personalized holiday gifts. Consumers are increasingly choosing Etsy to support small businesses, which aligns with the platform’s mission during the holiday season.

Four scalable eCommerce platforms for peak season

1. Shopify

• Scalability features: Shopify offers a robust infrastructure that can handle sudden spikes in traffic. Its cloud-based architecture allows for automatic scaling, ensuring that stores remain operational even during high-demand periods.
• Third-party integrations: The platform supports various integrations with logistics and fulfillment services, enabling seamless order processing and shipping.
• Best for: Small to medium-sized businesses, startups, and hobbyists.

2. WooCommerce

• Customizable scalability: As a WordPress plugin, WooCommerce allows for extensive customization. Users can optimize their hosting environments to scale according to demand, making it suitable for businesses of all sizes.
• Flexible hosting options: By choosing a reliable hosting provider, WooCommerce stores can effectively manage traffic surges during peak seasons.
• Best for: Existing WordPress users and small to medium-sized businesses.

3. BigCommerce

• Built for growth: BigCommerce is designed for high-volume sales and can easily scale with increased traffic. Its built-in features support large catalogs and high transaction volumes without compromising performance.
• Multichannel selling: The platform allows integration with various sales channels, including Amazon and eBay, enabling businesses to reach more customers during peak shopping times.
• Best for: Mid-market to enterprise-level brands.

4. Magento (Adobe Commerce)

• Enterprise-level scalability: Magento is ideal for larger businesses that require extensive customization and scalability. It can handle large volumes of transactions and complex product catalogs efficiently.
• Performance optimization: Magento provides tools for optimizing performance, such as caching and content delivery networks (CDNs), which are crucial during peak seasons.
• Best for: Large enterprises and businesses with specific customization needs.

What to Focus When Optimizing Your Online Store

1. Ensure a mobile-friendly website

With the dominance of mobile shopping during BFCM, optimizing your website for mobile users is crucial. Not only should your site load quickly, but it also needs to offer an intuitive layout for easy navigation and product discovery on smaller screens. Studies show that over half of BFCM sales come from mobile devices, so making your site mobile-friendly directly impacts your conversion rates.

To achieve this, implement responsive design, streamline the checkout process, and ensure pages load within seconds to prevent visitors from bouncing.

2. Stress testing your website for traffic surges

During BFCM, the spike in traffic can strain your website, potentially leading to slowdowns or even crashes. Conduct load testing before the event to ensure your site can handle increased traffic. Tools like Google Lighthouse or GTMetrix can help you identify potential performance issues in advance. Also, consider upgrading your hosting plan temporarily to accommodate the increased traffic load.

3. Simplify checkout processes to avoid abandonment

Cart abandonment remains a major challenge during BFCM, often caused by lengthy or complicated checkout processes. Simplify your checkout by reducing the number of steps, enabling guest checkout options, and offering multiple payment gateways. Clear progress indicators and auto-fill features also enhance the user experience, ensuring buyers complete their purchases instead of abandoning their carts midway.

Four Effective Marketing Strategies for BFCM

1. Create a multichannel marketing plan

To maximize your BFCM reach, it’s essential to implement a multichannel marketing strategy. Utilize platforms like social media, email marketing, and paid ads to engage with different segments of your audience. Each channel offers unique advantages: social media is great for building excitement, while email marketing allows you to deliver personalized offers directly to your customers.

Segment your audience based on past purchases or engagement levels to tailor your messages more effectively. This personalized approach boosts click-through rates and sales conversions during BFCM.

2. Use FOMO to drive urgency

Fear of missing out (FOMO) is a powerful psychological trigger that can drive urgency during BFCM. Limited-time offers, flash sales and countdown timers create a sense of scarcity, prompting customers to act quickly to secure the best deals. Highlight how much time is left or how many products remain to further amplify this effect.

3. Retarget past customers for maximum ROI

Retargeting campaigns can be highly effective during BFCM, especially for past customers. By reaching out to individuals who have already purchased from your brand, you can encourage repeat business. Use personalized ads, email reminders, and dynamic retargeting to promote deals on products that may interest them based on their browsing history.

4. Personalize your email marketing campaigns

Email marketing remains one of the most powerful tools for BFCM. Personalization is key to standing out in crowded inboxes. Segment your email lists based on user behavior, past purchases, and engagement levels. Additionally, follow-up emails reminding customers about their abandoned carts or upcoming promotions can help increase conversions during this critical sales period.

How to Craft Irresistible Offers on BFCM

Choosing the right discounts and bundles

Creating irresistible offers involves finding the right balance between deep discounts and protecting your profit margins. Percentage discounts are effective, but consider bundling products or offering free shipping to add value without drastically cutting prices. These options encourage larger purchases while giving customers a sense of getting a better deal. Offering tiered discounts (e.g., 10% off $50, 20% off $100) can further increase the average order value.

Flash sales and time-limited promotions

Flash sales and time-sensitive promotions are a powerful way to increase urgency and drive purchases during BFCM. These short-term deals create a sense of FOMO (Fear of Missing Out) that encourages immediate action. Promote flash sales across your marketing channels and use countdown timers to increase excitement.

Loyalty programs to reward repeat customers

BFCM is a great opportunity to introduce or enhance a customer loyalty program. Offering rewards, points, or exclusive access to sales for your loyal customers not only boosts sales but also increases long-term customer retention. Encourage repeat purchases by offering double loyalty points or special members-only deals during the sales period.

Post-Sale Engagement and Retention

Once BFCM ends, your work isn’t over. Engaging with your customers post-sale is essential to build loyalty and ensure they return for future purchases.

Following up with customers after BFCM

After the BFCM rush, send follow-up emails thanking your customers for their purchases. This creates a positive post-purchase experience and opens the door for future engagement. Include information about upcoming promotions and new products, or even offer a small discount on their next purchase to encourage repeat business.

Turn BFCM shoppers into long-term customers

BFCM is the perfect opportunity to turn one-time shoppers into loyal, long-term customers. Post-sale engagement can increase customer retention by providing excellent customer service, personalized emails, and relevant product recommendations. Offering incentives for future purchases, like discount codes or free shipping on their next order, keeps your brand top of mind even after the sale season ends.