Why BFCM 2024 Matters for Your Store
BFCM is more than just an opportunity to boost your sales — it’s a great time to attract new customers, and have them shopping from you throughout the shopping season and beyond. Over the years, BFCM sales have grown exponentially, creating a great landscape for you to attract brand new customers this BFCM 2024. Let’s break down why BFCM 2024 should be on your radar.
BFCM Sales Stats
According to a report by Adobe, BFCM sales continue to soar year after year, with U.S. consumers spending over $222.1 billion online during the festive season in 2023 alone, with $38 billion of that spent during Cyber Week. Black Friday and Cyber Monday lead the charts with $9.8 billion and $12.1 billion spent on the two days respectively, highlighting the massive potential BFCM holds for online retailers.
Consumers spent a staggering $32.5 billion online during BFCM 2023, and a further $5.6 billion on Thanksgiving in the U.S.
Trends for BFCM 2024
Several key trends are picking up in 2024, which are guiding e-commerce stores to capture more customers. Of these, one major trend is the continued dominance of mobile shopping. With more consumers shopping on their smartphones, ensuring that your website is mobile-optimised is super important. an attractive layout for your m-site, faster loading times, and mobile-friendly checkouts will go a long way in reducing drop-offs.
Additionally, social commerce is also on the rise, with more and more brands using platforms like Instagram and TikTok to sell directly through shoppable posts and livestreams. Engaging your audience on these platforms with real-time product demos and flash sales can drive traffic and conversions.
You can also include your TikToks / Reels right onto your website in the form of Shoppable Videos. As video content continues to play a key role in engagement, having shoppable videos built onto your website can not only help in reducing drop-offs, but also increase the discoverability of certain products on your website and, in turn, conversions! Using Whatmore, you can integrate shoppable videos right onto your website, and with a direct add-to-cart button within the product videos, and ZERO page speed impact, you can ensure that there are minimal customer drop offs in the journey.
Early Preparation = BFCM Success
When it comes to preparing for festive sales, the earlier you start, the merrier. And especially for SMEs, starting BFCM preparations beforehand is all-the-more important, since you will have multiple tasks to take care of. While the tasks at hand may feel overwhelming at first, pulling off a great BFCM campaign can make a huge difference for e-commerce businesses. Not only will the BFCM sales boost revenue for the quarter, but it can also give you loyal returning customers who will keep shopping from you throughout the festive season and beyond. By planning your marketing campaigns, optimising your website, and preparing your inventory well ahead of time, you’ll be in a much better position to handle the surge in traffic and capitalise on the sales opportunities.