It’s time! BFCM 2023 is just around the corner and brings with it a load of anticipation for the shopping extravaganza once again. For Shopify store owners, Black Friday and Cyber Monday present a golden opportunity to skyrocket sales, enhance brand visibility, and solidify their position in the fiercely competitive e-commerce industry.
Thriving in the eCommerce realm requires staying ahead of the curve, especially as shoppers become more discerning and the digital landscape undergoes continuous evolution. To excel in the upcoming BFCM 2023 season, it's crucial not only to foresee trends but also to adapt strategies to meet the evolving demands of your audience.
This blog post is your guide to expert predictions on Black Friday & Cyber Monday 2023 trends, supported by in-depth research and industry insights. We'll provide actionable tips and strategies to help you leverage these trends and optimize your Black Friday & Cyber Monday sales.
Let's get to selling!
Top 4 BFCM 2023 Trends And Predictions
Trend 1: Cyber Monday Takes the Crown Over Black Friday
In recent times, Cyber Monday has emerged as the dominant force in e-commerce, surpassing the traditionally prominent Black Friday.
In 2021, Black Friday held its ground with impressive sales reaching $8.9 billion. However, Cyber Monday swiftly caught up and outshone Black Friday with $10.7 billion in revenue. In the subsequent year, 2022, this trend continued its trajectory.
Consumers unleashed their purchasing prowess, contributing to a remarkable $11.84 billion on Cyber Monday—an increase of 3.8% from the previous year and a substantial 25% surge from Black Friday's record-breaking revenue.
The upward trajectory of Cyber Monday continues unabated, fueled by its unique timeline and evolving consumer behaviors.
Unlike the concentrated sales frenzy of Black Friday confined to a single day or weekend, Cyber Monday extends the shopping window. With 72% of consumers adopting a more thoughtful approach to spending, this extended timeframe provides the flexibility for thorough product research, price comparisons, and deliberate purchasing decisions.
Next Steps: Amp Up Your Cyber Monday Marketing Efforts
For businesses, the takeaway is crystal clear: Cyber Monday stands as a formidable force in retail. It demands a robust marketing strategy, similar to that of Black Friday. This encompasses optimizing your website, providing incentives, leveraging email marketing, and promoting across social media channels.
Additionally, ensure your marketing endeavors emphasize the unique advantages of Cyber Monday, such as convenience and exclusive online deals. Highlight these benefits on your website and in marketing materials to spur immediate action from eager shoppers.
BFCM 2023 Trend 2: Leading Niches Are Toys, Home Appliances, Electronics, and Apparel
In the dynamic realm of Black Friday and Cyber Monday (BFCM) sales, specific product niches consistently emerge as star performers. Aligning with customer demands can be the key to success for your business. As for BFCM 2023, the categories below are projected to be the most popular ones.
Toys
Continuing interest in toys, particularly video game consoles, is evident in Google Trends. "PlayStation Plus " is a rising topic based on data from the past 7 days, indicating a strong appeal in the gaming industry and making these products potential top sellers in 2023.
Electronics & Home Appliances
The electronics and home appliances market is poised to maintain its dominance. Google Trends highlights a surge in interest in electronics and home appliances, with topics related to companies such as Boulanger, Darty, and Gigantti trending.
Apparel
The demand for the apparel industry is also showing an increase in demand, with queries related to Gymshark and Lululemon’s Black Friday deals trending.
Next Steps: Strategic Marketing for Trend Optimization
To capitalize on these trends and enhance your Shopify store for the 2023 BFCM season, consider the following strategic tips:
For Businesses in These Niches:
If your business falls within the Electronics, Toys, or Apparel product categories, focus on effective product marketing. Highlight the uniqueness of your offerings and the irresistible deals during BFCM.
For Businesses Outside These Niches:
Even if your business doesn't align with these product categories, leverage insights from these trends:
Electronics and Toys: Recognize the high demand for gifts and recreation during the holiday season. Promote your products as special gifts or sources of entertainment for family and friends.
Apparel: Capitalize on the increasing emphasis on self-care and wellness. Integrate environmentally-friendly aspects into your products and marketing to attract socially conscious customers.
BFCM 2023 Trend 3: Growing Dependence on Credit Payment Options
In recent times, the manner in which customers handle their holiday purchases has undergone a notable shift, with credit options gradually overshadowing traditional payment methods. This shift provides shoppers with increased flexibility and financial maneuverability.
The holiday season of 2022 witnessed a significant change in how shoppers settled their bills. Credit payment options, particularly credit cards and buy now, pay later (BNPL) services, gained prominence. A staggering 48% of shoppers opted for credit cards, while 37% chose BNPL solutions to finance their purchases.
This shift is driven by the impact of inflation on the cost of living. With rising prices, consumers are increasingly turning to credit cards to extend their holiday shopping budgets.
Prediction for 2023 BFCM: Surge in Credit Payments
Given the ongoing challenge of inflation, the reliance on credit payment options is expected to persist and potentially intensify. Data from LendingTree indicates a steady increase in credit card usage throughout the year, highlighting a growing dependence on this payment method.
Additionally, the "Buy Now, Pay Later" (BNPL) method is projected to see increased usage during the BFCM season. On Amazon Prime Day, one of the largest eCommerce sale events, shoppers demonstrated a 20% rise in BNPL usage compared to the previous year, signaling a growing comfort with this payment option.
Next Steps: Streamlining Credit Payments for Customers
For Shopify businesses, adapting to this evolving payment landscape is crucial. Consider the following key steps:
Activate Credit Card Payments
Ensure that your online store offers credit card payment options to align with customers' preferences. Shopify provides a robust payment gateway called Shopify Payments, but be aware of its availability in specific countries and regions. If not eligible, explore alternative payment apps on the Shopify App Store.
Install BNPL Apps
Facilitate the use of the buy now, pay later (BNPL) option by integrating Shop Pay Installment by Shopify. This native app enables customers to split purchases into manageable payments, enhancing the shopping experience and catering to budget-conscious shoppers. Verify the eligibility criteria and explore alternative BNPL apps if needed.
Trend 4: Customer Anticipation for Generous Discounts
Reflecting on past years, the inclination toward extensive discounts during BFCM has become more pronounced.
Examining Past Trends: Preference for Substantial Discounts
Previous data from BFCM 2022 highlighted a notable shift in shoppers' preferences, with 64% favoring larger, limited-time discounts over smaller, extended deals. This choice underscores the excitement and urgency associated with BFCM shopping.
Anticipated Trend for BFCM 2023: Heightened Demand for Generous Discounts
As discussed earlier, BFCM shoppers exhibit increased patience and discernment in their purchasing decisions. They eagerly await sales events, anticipating substantial discounts that truly capture the essence of BFCM. Therefore, minor discounts like 5% or 10% may no longer suffice to capture their attention.
Staying Ahead of the Curve: Offering Significant Discounts Promptly
To meet the high expectations of holiday shoppers, businesses should consider the following strategies:
1. Embrace Substantial Discounts
Plan BFCM promotions around notable discounts of 20%, 30%, or even more to entice shoppers. Target specific high-margin products to avoid impacting overall profit.
2. Create a Sense of Urgency
Combine significant discounts with a sense of urgency to prompt quick purchasing decisions. Run a flash sale, incorporating a countdown timer or stock countdown to create a compelling shopping experience.
Explore these strategies and capitalize on the heightened demand for substantial discounts during the BFCM season.
Now let’s move on to the strategies you should implement to ensure your website is in prime condition for the biggest Black Friday Cyber Monday sale!
Shopify Store Optimization Tips For BFCM 2023
Maintaining a clear website is essential on any given day, but amidst the Black Friday Cyber Monday rush, any confusion or distraction could result in tangible financial losses and a decline in potential loyal customers.
To avoid such scenarios, take the following steps:
1. Evaluate Website Speed To Brace For Heightened Traffic
In anticipation of Black Friday, it is advisable to examine your website's speed to accommodate the anticipated surge in traffic. Slow loading times can provoke shopper frustration, leading to a negative shopping experience and, ultimately, influencing your conversion rates. Even a minor improvement, such as a mere 0.1-second enhancement in your site's speed, can result in a significant 10.1% boost in conversions.
For eCommerce websites, the ideal loading time falls within the 0 to 4 seconds range, as this interval is linked to conversion rates ranging from 12% to 30%.
2. Create Attention-Grabbing Black Friday Banners For Your Website
As the eagerly awaited year-end sales event approaches, where everyone anticipates perks, discounts, gifts, and freebies, it's crucial to design Black Friday sale banners that entice customers to complete their purchases and proceed to checkout!
Consider the following key elements when crafting a Black Friday banner for your marketing campaign:
2.1 Headline
Effectively capture your audience's attention by incorporating keywords such as Black Friday, discount, exclusive, sale, deals, up to % off, or special offers. Use words that convey urgency to create a perception that customers stand to miss out significantly if they don't seize the discount immediately. Terms like Hurry, Now, Expire, Fast, Limited, Quick, and similar expressions can be effective in conveying urgency.
2.2 Minimalist Design
Aligning with the 2023 website design trend of minimalism is crucial, prioritizing simplicity and clarity in your Black Friday banner design. Since people tend to pass by these banners quickly, maintain straightforward yet attention-grabbing design elements. Ensure the text is easily readable from a distance or on different screen sizes. Use varying sizes for the main headline and text on the banner, and employ a combination of uppercase and lowercase letters, avoiding the use of cursive fonts.
In addition to the minimalist approach, explore other top eCommerce website design trends shaping the digital landscape in 2023, including 3D design, asymmetrical layout, layering, gamified design, and more.
2.3 Visual Effects
Considering that your website has a mere 50 milliseconds to create a compelling initial impact, incorporating animations can capture your audience's attention and enhance engagement rates. Web design animations encompass various graphical effects that create movement and interactive features on a site. These animations range from simple ones, like buttons changing color on hover, to more complex sequences covering the entire page. Explore different types of animations, such as Hover Animation (indicating clickable and interactive elements), Loading Animation (informing users of ongoing processes), and Hero Animation (making the initial contact point more dynamic and appealing).
2.4 Call to Action
Influence consumer decisions by using words or phrases that eliminate hesitation when considering your product or service. Examples include "Shop Now!", "Subscribe Now!", "Order Now!", "Add to Cart Now!", and more.
3. Turn Your Offers into a Game with Gamification
As the Black Friday Cyber Monday (BFCM) shopping frenzy approaches, businesses seek innovative ways to capture the attention of discerning customers and stand out from the crowd. Gamification, a strategic marketing approach that incorporates game-like elements, offers a unique solution to elevate your BFCM campaign and drive business success.
By seamlessly integrating gamification into your online store, you can transform the mundane task of email collection into an exciting and engaging experience for your customers. With Shopify apps like Wheelio, you can create interactive games that entice visitors to spin a wheel or play a slot-machine-style game, offering incentives such as substantial discounts, free gifts with purchase, or exclusive access to limited-edition offers.
5. Mobile-Friendly Design
Given that a significant percentage of BFCM sales occurs on mobile devices, ensuring your website has a mobile-friendly design is paramount. Ensure a responsive layout or use page-builder templates to prevent potential customers from getting irritated and abandoning your website.
5. Simplify and Customize Checkout
Simplifying the checkout experience is crucial during the Black Friday and Cyber Monday frenzy. You should consider implementing either a one-page checkout or one-click purchasing options, integrate services like PayPal, Apple Pay, Google Pay, and Shop Pay, offer multiple payment methods to cater to customer preferences and make the buying process enticing for new customers. You can also use apps such as Dynamic Checkout Customizer to further engage customers, prevent cart abandonment, and even upsell and cross-sell personalized products to boost your average order value.
The app allows you to provide instructional prompts, add image banners, add product tags for rewards or giveaways, and upsell or cross-sell up to 10 products! What’s more, is that customers can add notes to and set the quantity of products purchased! To make the most of the app during BFCM 2023, you can implement product discounts, add BFCM-style images and badges, and implement a BFCM-style banner on your Shopify checkout page. Don’t forget to narrow down products with high potential and upsell or cross-sell them on checkout.
That covers the technical aspects you need to check to prepare for what is anticipated to be the largest Black Friday Cyber Monday spree!
Now let’s focus on how you can refine your marketing strategy for optimal results.
BFCM 2023: Marketing Tips To Make It Rain
Black Friday and Cyber Monday (BFCM) are part of the holiday season, which makes these days extremely profitable for Shopify merchants. A thoughtful marketing strategy is essential to maximizing sales during this joyous shopping frenzy as your digital stores get ready to display alluring discounts. We’re going to break down the most essential steps you can take during BFCM 2023 to boost sales.
Optimize Emails
Considering that many consumers prefer to look for discounts online, spending money on email marketing is a fantastic chance to draw customers to your company rather than rivals. Let's look at some doable strategies for being ready for your email marketing on Black Friday.
Check the subject lines of your Black Friday emails.
Increasing email open rates may be difficult, and one of the main factors influencing this is what your email subject lines say. Is it better to use phrases like "free," "discount," or even "10%" off when referring to discounts?
To increase your chances, make sure your subject line grabs readers' attention right away. Make use of alluring terms like "X% off," "Markdown," "Free shipping," "Closeout," etc. to increase open rates throughout the Black Friday weekend.
A/B Test & Iterate
Try your email subject lines with A/B testing by giving version A to 25% of subscribers and version B to the remaining 25%. For the remaining 50% of your email list, the subject line that performs better gets selected.
Personalize Your E-mails
Adding the recipient's name to the subject line is a basic way to personalize an email. Subject lines with this degree of customization have an open rate that is 22% higher.
Add A Tone Of Urgency To Your BFCM Email Campaigns
It's imperative that your BFCM marketing approach has a feeling of urgency. To let your consumers know that the deal has a limited period, don’t shy away from including a timer or emphasizing the product's scarcity in your messaging. Conversion rates can significantly increase as a result of this strategy.
Make your Black Friday deals more visible on social media
Utilizing social media may greatly improve the way you promote your brand, especially because a lot of young consumers use these platforms to make purchases. In fact, nearly 60% of the global population uses social media.
The following are some pointers and strategies to be ready for Black Friday social media marketing:
Optimize Your Social Media Accounts
Establish Your Presence On The Right Platforms
For e-commerce businesses looking to interact with customers, increase traffic, and boost sales, figuring out which social media channels to use is essential. There are many different platforms available; however, the ones listed below have worked incredibly well for e-commerce companies:
Facebook has billions of daily active members and is the most popular social networking site in the world. With options for specialized company profiles, interesting articles, videos, and photographs to promote items, its varied capabilities make it a great option for e-commerce. Its attractiveness is increased by direct online store integration with Facebook Pages, extensive advertising choices, and accurate targeting. Furthermore, Facebook groups encourage consumer connection, community development, and repeat business.
A visually oriented platform, Instagram has gained popularity among e-commerce companies. Leveraging its emphasis on high-quality visuals, businesses can create an Instagram Business Profile to access features like product tagging, shoppable posts, and integration with e-commerce platforms. User-generated content and influencer collaborations play pivotal roles in boosting engagement and driving purchasing decisions.
With a focus on visual inspiration, Pinterest allows users to curate digital bulletin boards with pinned items. E-commerce businesses find value in showcasing products, driving website traffic, and inspiring potential customers through its visually rich content and search functionality.
YouTube
As the leading global video-sharing platform, YouTube is essential for e-commerce companies leveraging video content. Compelling videos, including tutorials, behind-the-scenes footage, and product demonstrations, help businesses connect with their audience, grow subscribers, enhance brand visibility, and drive traffic to their e-commerce websites.
While known for professional networking, LinkedIn offers B2B e-commerce companies opportunities to reach decision-makers, establish thought leadership, and build professional connections. Sharing industry insights, participating in discussions, and showcasing expertise are effective strategies for businesses targeting professionals or providing goods and services for other businesses.
TikTok
This platform is beloved by younger audiences and is quickly gaining popularity. A special chance to highlight items in an entertaining and captivating way is provided by its short-form video format for e-commerce businesses. With TikTok's algorithm-driven "For You" page, brands can use compelling films to build brand recognition and reach a wider audience.
E-commerce success depends on selecting the appropriate social media channels. With their distinct features and benefits, Facebook, Instagram, Pinterest, YouTube, LinkedIn, Twitter, and TikTok stand out as excellent options for businesses looking to advertise their goods, increase traffic, and increase sales. Optimizing e-commerce success requires selecting platforms according to the target market, objectives, and kind of goods or services.
Make sure you have a unique profile photo and a customized cover photo. Include business-related terms in your bio. Check to make sure all of the links are working.
Make use of the social shopping function
Estimates indicate the social commerce market in the United States will grow from $29.3 billion in 2020 to $84.2 billion in 2024, an annual growth rate of 47%.
Companies may allow customers to make purchases straight from their feed by connecting their online businesses to social media sites like Facebook and Instagram. By streamlining the purchasing procedure, this feature lowers the possibility of problems.
Research hashtags before launching your Black Friday social media campaign
You will be able to better target your social media content by using insightful information about the attitudes and preferences of your target audience. Although popular hashtags for Black Friday and Cyber Monday, such as #blackfridayspecial, #cybermondaydeals, and #blackfridaysales, are certainly useful, go past the obvious and find trending hashtags that help expand the audience for your articles. To increase the reach of your content, try using hashtags such as #giftsforher, #giftsforhim, #giftideas, or #christmasshopping.
Unleash a Burst of Limited-Time Offers for BFCM Success
Limited-time offers, those special promotional deals exclusive to a specific period, can be employed strategically during BFCM to reap significant benefits for your store.
Harness the Power of Scarcity
Scarcity, a potent psychological factor, plays a pivotal role in influencing purchase decisions. By framing your products as limited-time offers, you create a sense of urgency, nudging potential buyers from mere interest to a firm intention to purchase. This clever psychological trigger can boost conversions.
Attract a Flood of New Customers
Consumers are inherently drawn to opportunities for savings. A limited-time sale not only appeals to your existing customer base but also entices new shoppers to explore your store. The reduced prices lower the risk, making customers more open to trying new brands and stores.
Reactivate Your Loyal Customer Base
Introducing a variety of limited-time offers during BFCM can rekindle excitement among your loyal customers. By presenting exclusive deals, you not only retain their interest but also create an environment that encourages repeat purchases.
Limited-time offers, when employed strategically, can serve as a powerful tool to drive sales, attract new customers, and retain loyal ones during BFCM. Embrace the power of scarcity and watch your BFCM success soar.
Enchant Your Customers with a Black Friday Gift with Purchase
Elevate your Black Friday marketing tactics with the enticing allure of a "Gift with Purchase". This strategic approach involves offering customers a complimentary gift when they make a purchase, either of a specific product or when they reach a designated spending threshold. By incorporating this customer-centric strategy into your Black Friday campaign, you can reap immediate rewards for your store:
Ignite Sales with the Power of Free Gifts
Harness the irresistible appeal of free gifts to drive sales. Studies have shown that customers value promotional gifts 2.4 times more than their cost to sellers. By incorporating a free gift with purchase into your Black Friday strategy, you can create a positive customer experience that not only delights shoppers but also fuels sales growth.
Cultivate Enduring Brand Loyalty
The impact of a thoughtful gift extends beyond the immediate transaction. Nearly 90% of free gift recipients express being "somewhat likely" to increase their purchasing frequency from an online retailer after receiving a gift. By offering a free gift with purchase during Black Friday, you can foster brand loyalty, encouraging customers to become repeat patrons and advocates for your brand.
Guide Your Customers to Gifting Success with a Thoughtful Gift Guide
As the festive season draws near, the search for the perfect gift becomes a common pursuit among shoppers. This year, a staggering 86% of BFCM shoppers plan to utilize this occasion to cross off every item on their gift lists. To capitalize on this opportunity, one of the most effective Black Friday marketing strategies for your store is to craft a comprehensive gift guide for your customers.
Unveiling the Magic of a Curated Gift Guide
A holiday gift guide is not just a catalog of products; it's a strategic tool designed to streamline the shopping process for your audience and bring great benefits to both you and your customers.
Nurture Enduring Customer Relationships
Crafting a gift guide serves as a compelling way to re-engage past and existing customers. By offering a curated selection of holiday gifts, you encourage them to choose your retail store over the competition. This not only boosts seasonal sales but also increases the overall amount customers spend with your business throughout their lifetime.
Empower Customers With Informed and Timely Gift Selections
The holiday season is often bustling, and customers appreciate the simplicity of making decisions quickly. A well-crafted gift guide makes it easier for shoppers to select thoughtful presents from your store, especially as last-minute gift-buying tendencies peak.
By creating a gift guide, you provide a valuable resource for your customers, making their holiday shopping experience more convenient and enjoyable. In turn, you reap the rewards of increased sales, enhanced customer loyalty, and a stronger brand reputation. Embrace the gift guide strategy and watch your Black Friday success skyrocket.
Reclaim Lost Sales with Abandoned Cart Emails
During the frenzy of BFCM last year, a staggering 80% of online shoppers abandoned their carts before completing their purchases. This highlights the crucial need for effective cart abandonment solutions as part of your Black Friday marketing strategy.
Rejuvenate Purchases with Timely Reminders
Abandoned cart emails have long been a proven tool to combat cart abandonment. These emails serve as gentle reminders to customers who have expressed interest in your products but may have been distracted or encountered obstacles during the checkout process.
By implementing abandoned cart emails as part of your Black Friday marketing strategy, you can effectively recapture lost sales and boost your revenue. A recent report by Klaviyo revealed that businesses utilizing cart recovery emails successfully regain 3%–14% of abandoned sales, with an average revenue per recipient of $5.81.
Conclusion
As the excitement of BFCM 2023 approaches, it's time to put these strategies into action and transform your Shopify store into a sales powerhouse. Remember, preparation is key to maximizing this lucrative opportunity. By implementing these effective tactics, you can attract new customers, increase conversions, and drive significant sales growth during BFCM 2023.
Ready to take your BFCM success to the next level? Book a free consultation with our team of Shopify experts who can help you craft a winning BFCM strategy and boost your sales beyond your expectations.
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