The name of Black Friday has been cut short. Due to the increase in sales volume in Spain, it must be renamed “Big Black Friday”. Surely not even that is enough to explain the almost 500% increase in sales and the growth of 193% in web traffic if we take any other day of October as a reference.
The striking fact is that not only multiply sales and web traffic during Black Friday, but they occur throughout the week, resulting in the Cyber Week effect. This data can be found in this graph presented by Criteo , which compares the increase in sales and web traffic during the Black Friday week with any day in October.
In Spain, Wednesday of the Black Friday week started with a 176% increase in sales and 142% more web traffic compared to the previous month, on Thursday the numbers continued to increase to reach 282% and 164% respectively and these data reach the top with the figures recorded in Black Friday.
The Cyber Week effect has set in Spain and a lot. After Black Friday and until Cyber Monday there was an increase in sales between 200% and 300% and an increase in web traffic between 130% and 160%.
Another curious fact that is observed in the results is that Cyber Monday in Spain is not yet consolidated, with a percentage of sales behind Thursday and Sunday. In other countries such as the US, Canada and Australia, Cyber Monday has a great impact, having sales figures very similar to those registered during Black Friday.
This data matches perfectly with the initial forecasts of what was going to happen in 2018. Black Friday and the Cyber Week effect in the retail category is a fact. And anticipating, launching offers throughout the week can be the key to success in a campaign.
If you want to sell, become omni-channel
At this point, no one doubts the benefits of an omnichannel strategy. It is over that of spending hours and hours rummaging through the shop windows or, in a more modern way, browsing and spending megas in the search for offers that satisfy us. If the virtue is at the midpoint , the omnichannel offers precisely the option to browse and compare from the store itself. Worldwide, more than 3 out of 4 buyers complete online purchases that started offline and vice versa.
How to facilitate better moments for customers
- Development of always-on strategy for any point of the purchase process. With regard to omnichannel (physical store, apps, mobile web …) retailers and their marketers should promote their products at each point of contact with customers.
- Web optimized for in-app and mobile transactions. You manage to drive traffic to your app, but once in it you do not distinguish the products well and there is no intuitive navigation that favors the conversion. This is precisely the error that must be avoided. If you invite someone to your house, do whatever is necessary to make them feel comfortable and come back.
- Who has the data has the power. Everybody knows. The more data you have from your customers about their behaviors and buying habits, the better. You will be able to personalize your campaigns in a better way and do it, in an omni-channel way.
As conclusion is clear the obligation that retailers have to be incisive and accurate with their campaigns, not only on Black Friday or Cyber Monday, but in the previous days where these purchases are precisely gestated. This means taking advantage of and launching offers throughout the Cyber Week.
Lastly, brands and retailers must take into account the omnichannel factor, giving consumers the convenience of making purchases regardless of the search and conversion device.