In 2022, Black Friday will happen on November 25th. This year, Future Publishing predicts that Black Friday will raise $158 billion in total sales.
This holiday shopping season—starting from November 1 and extending to December 31—Adobe expects US online sales to reach $209.7 billion (2.5% higher compared to 2021). From this total, 16.3% of the online sales ($34.8 billion) will be made during Cyber Week.
Usually, this day kicks off holiday shopping, bringing a great opportunity for retailers to expand their business and get even more sales this season. The study projects that 76% of American consumers plan on shopping for deals on Black Friday with an average budget of $574.
Black Friday predictions for e-commerce businesses
E-commerce is one of the biggest drivers for Cyber Week. The US is one of the most significant countries for e-commerce revenue. So far January to August 2022, Americans have spent $590 billion in online shopping, according to the research of LLC Globalfy.
For the holiday season, it is expected that electronics, apparel, and groceries will be great revenue drivers. These categories should contribute $103.8 billion in online spending. Toys, home goods, and sporting goods will also still be hot products to watch during the season, according to Adobe.
On Cyber Monday 2021, 39.7% of online sales were made on smartphones. Request an UX Mobile Best Practices eBook from our team. The number is far from the 50% of sales expected, but consumers are still using their phones to browse during the same period. For e-commerce vendors, this means it is important to invest in technology to support visits and create a good user experience on mobile devices.
The essentials for a successful Black Friday
While it presents great opportunities, Black Friday is also highly competitive. If your e-commerce store cannot give customers a fast and transparent purchasing experience, your many competitors are ready and waiting. To maximize sales on this special day and meet the unique technical demands of the BFCM bonanza, all Magento store owners need to focus on the following:
- Sufficient server space to prevent frantic BFCM web traffic overloading your system.
- An inventory management system to avoid disastrous stockouts on the big day.
- A wide and appropriate range of payment options, including BNPL (Buy Now, Pay later). According to Netfluential, 70% of consumers will spend more at a retailer that offers their preferred payment method.
- An automated ‘abandoned cart’ email triggered in the event that a customer abandons their sales cart. Amazingly, Black Friday customers abandon 64% of their carts before the purchase process is complete.
- A live chat function or customer service desk like Gorgias to deal with the inevitable surge in customer inquiries.
- A complete backup of your website, including your site files, database and third party integrations. Better safe than sorry.
- A website that provides an effective and satisfying purchasing experience on mobile phone. Request an UX Mobile Best Practices eBook from our team.
- A seamless, fast and enjoyable User Experience for your customers that eliminates confusion and misunderstanding. Schedule a thorough UX audit with us if necessary.
- Multiple marketing channels, including email campaigns and Facebook ads with retargeting.
- A secure Magento site with the latest security patches applied, an updated or renewed SSL certificate and strong passwords in place.
- A contingency plan. You need to know what might go wrong and have a viable strategy prepared to deal with these disruptions.
- A site performance audit and load test to understand and address any gaps. Schedule a thorough Technical audit with us if necessary.
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