Black Friday is a Week Long Sales Event
Many brands and businesses will launch their Black Friday deals as early as the Monday before, extending them throughout the week. Although sales start to climb from the Monday of the week, Black Friday itself still sees a significant spike in purchases. Shoppers are keen to snap up early deals, but the allure of the big day remains strong. Global year on year sales for Black Friday online sales grew by 8% year on year in 2023.
Participation & Preparation Are Key
You could skip November discounts and still capture 10% of your Q4 gift card sales in this month alone. But our research shows that offering a 20% discount on Black Friday can dramatically increase your November voucher sales by around 40%.
Hospitality marketers can learn a lot from retail marketers, especially when it comes to post-Christmas promotions. With Voucher Connect you get all of these discounted products and campaigns ready in advance. You can even schedule them to automatically appear in your store front on the required dates.
Inform Your Customers! Utilise Your Opted-In Email List
One of the most compelling aspects from our research is the power of email. The average conversion rate across Black Friday week was an impressive 11.2%. However, for visitors arriving via email, the conversion rate jumped to 20%—that’s 1 in 5 making a purchase. In comparison, social media-driven traffic had a 4% conversion rate, which, while decent, pales in comparison.
Digital Dominates
As expected, the majority of gift card purchases during Black Friday week were digital, accounting for 85% of sales. Physical cards purchased online made up 10%.
Extended Browsing Time on Black Friday
Surprisingly, visitors spend twice as long on your webshop on Black Friday—around 3 minutes. This extended browsing time presents a prime opportunity to showcase your full range of products, experiences, and merchandise. Even if customers are there for the discounts, this is your chance to plant seeds for future sales.
Experiences for Two are a Hit
Experiences tailored for two people sell particularly well over the Christmas period. Packages like ‘date night for two’, ‘tasting menu for two’, or ‘spa getaway for two’ are especially popular.
Mobile Browsing vs. Desktop Spending
Our stats showed 80% of visitors browsing on mobile devices, while desktop users tend to spend more. The average transaction value is €105 on desktop, compared to €95 on mobile. Additionally, desktop users spend more time on your site and convert at higher rates.
Golden Rules for Success
Whether it’s Black Friday, Christmas Week, or any other sale, these insights can help you craft a strong offer that resonates with your audience:
- Optimise Your Webshop: Ensure your site & storefront are visually appealing, informative, and aligned with your branding.
- Specialised Products: Consider branding gift cards for specific events, like a ‘Black Friday gift card,’ to boost sales—even without a discount.
- Limited Availability: Offering a limited number of heavily discounted cards creates urgency and drives faster customer decisions – remember you can pair discounts with custom validity.
- Restricted Validity: Promotions with specific redemption periods can help fill your quietest times or provide a revenue boost. For example, a 50% discount on gift cards redeemable only in January.
- Reward Loyalty: Offering exclusive discounts to your loyal customers can turn them into brand champions and expand your customer base. Consider private offers through a custom URL to your opted-in customers.
- 20% Discount Sweet Spot: A 20% discount seems to hit the mark for driving sales.
Implement these strategies for Black Friday and beyond!
Hospitality marketers can learn a lot from retail marketers, especially when it comes to post-Christmas promotions. Start discounting your January offerings now to secure bookings early in the year.
Black Friday lands on November 29th this year.
If you need help getting ready for Black Friday just let us know.
