Black Friday is one of the most important shopping dates on the calendar for eCommerce businesses – and it’s looming large. This year’s event will take place on Friday 29 November, followed by Cyber Monday on 02 December.

What does the data say?

Adobe’s projections call for record sales throughout the weekend in the USA, but the UK eCommerce Association says it expects sales to be 1.0% lower than last year.

YouGov is more optimistic. In its Black Friday and Cyber Monday 2024 report, it estimates that around a third of Brits will take part in Black Friday sales, though it cautions 1 in 4 shoppers plans to spend less this year.

There’s little doubt that household budgets remain stretched because of the higher cost of living, but this could be the secret to success for businesses. YouGov’s research indicates that 72% of shoppers will be determinedly on the hunt for the best deals and biggest discounts.

Over a quarter of shoppers say they plan to do most of their holiday shopping during the Black Friday weekend, making a clear plan to optimise sales essential.

1.   Be active on social media

Social media is a prime discovery medium, with 54% of shoppers saying they’re most likely to notice Black Friday deals via their preferred network. This channel provides a real opportunity to set the stage for a strong sales performance but, you’ll need to get your ducks in a row to stand out above the noise:

• Consider partnering with select influencers to extend your social reach
• Use social media listening to monitor brand sentiment and identify trending topics
• Start your Black Friday posts early. With budget front of mind, we can expect shoppers to begin planning their purchases early. Help them along by strategically revealing your best offers and creating excitement about what you have to offer
• Use images, videos and stories to capture attention
• Consider paid advertising on the platforms that best align with your demographic

2.   Activate ‘buy now, pay later’

Adobe expects to see ‘buy now, pay later’ (BNPL) setting new records across the holiday season as consumers try to stretch out their budgets. It expects BNPL purchases to top £7.27 billion / $9.5 billion in the USA in November alone. Last year was the first time we really saw BNPL play a key part in Black Friday. This flexible payment option is likely to remain popular with shoppers this year.

• You can use PayPal to offer pay in three and similar offers to shoppers
• Merchants like Klarna and Clearpay are familiar names to shoppers
• If you don’t already offer this flexible payment option, act fast to get it in place before Black Friday arrives

3.   Offer strong incentives to existing customers

Don’t overlook your current clients while focusing on winning over new shoppers. Saving some of your best deals for your existing customers is a smart, strategic and low cost way to optimise your Black Friday sales. This can be achieved by offering early access to your Black Friday deals so consumers who have shopped with you before can get a head start on bagging the best offers.

Showing how much you value your customers can also go a long way towards retaining that relationship over the coming months:

• Provide early access to discounts and deals
• Create exclusive discounts and unmissable offers only available to those who’ve shopped with you before
• Reward your existing shoppers with extra loyalty scheme perks, such as free next day delivery or complimentary gift wrapping
• Distinguish between your standard Black Friday offers and loyalty rewards to ensure your existing clients know they are being treated to something extra special

4.   Have a clear plan to target abandoned carts

As budget conscious shoppers look around and strive to get the best possible deals and savings, you might find that your abandoned cart numbers spike. It’s common for shoppers to add to basket to hold the item while they continue to look around, but if they leave without completing the transaction, all is not lost. Have a clear plan in place to entice those shoppers back to complete their purchase:

• Create personalized emails to tempt back the shopper
• Offer an additional limited-time discount for those who return to their bag and check out
• Send helpful emails to remind shoppers about expiring discounts or low stock to create a sense of urgency
• Use retargeting ads

5.   Launch limited-edition bundles and products

Bundling products together to create a truly limited-edition deal is a smart way to grow your sales and increase basket value. It also creates a sense of exclusivity, which can encourage shoppers to act quickly to avoid missing out:

• Create exclusive bundles only available during Black Friday
• Push the limited-time nature of the offer to encourage fast action
• To add even more urgency, limit the volume of bundles available
• Clearly display the amount being saved on the bundle versus purchasing each item individually

Key takeaways

Consumers may be more selective about what they spend this year but there’s an enormous opportunity for businesses to win over shoppers with a smart, strategic approach to Black Friday sales. Plan ahead to position yourself for success, use social media to reach new audiences and consider how you can reward your most loyal customers.

We’re here to help. If you’d like to speak with our team to explore how we can help you exceed your sales goals, get in touch.