Customer Engagement

Black Friday 2023: US Sales to Hit $9.8 bn According to Experts

Black Friday 2023

•Black Friday online sales are expected to reach $9.8 billion in the US alone in 2023, an increase of 7.5% from 2022.
•Global Black Friday online sales amounted to $65.3 billion in 2022.
•74% of shoppers don’t have a specific item in mind when they begin their Black Friday shopping journey.
•141 million marketing emails were sent on Black Friday 2022.

58% of Americans (196.7 million) participated in Black Friday 2022, shopping online or in stores. This year, experts predict that Black Friday sales in America are set to increase by 7.5% from $9.12 billion in 2022 to $9.8 billion. This surge follows the 3.5% growth observed in global Black Friday online sales, which reached a staggering $65.3 billion in 2022 across over 30 countries.

Black Friday 2022 saw a notable shift in consumer behavior as 74% of shoppers embarked on their Black Friday journey without a specific item in mind. This departure from traditional shopping lists suggests a more exploratory and spontaneous approach, signalling a change in the dynamics of the Black Friday experience where shoppers are straying from need–based shopping. 

To target the massive market of Black Friday shoppers in 2022, 141 million marketing emails were sent. Email campaigns have long been an effective method of online communication to capture consumer attention and drive sales. Personalized email campaigns achieved on average a 30.32% higher open rate and a 49.66% higher click rate than non-personalized campaigns, showing the importance of tailoring campaigns to each individual potential buyer. 

The most effective Black Friday marketing channels were email, social media, and paid search in 2022. Paid search, in particular, emerged as the biggest sales driver, contributing to 28% of online sales during Black Friday 2022. Last year’s data emphasizes the importance of a multi-channel approach for businesses looking to maximize their impact and reach a diverse audience.

Google’s data revealed a 15% weekly rise in search volume for Black Friday-related deals since mid-August, showcasing the sustained anticipation and early interest in the annual shopping event. This early surge in interest highlights the need for businesses to strategically plan and execute their Black Friday marketing campaigns well in advance to capture the attention of the ever-eager consumer base. \

In terms of customer engagement, the use of chatbots witnessed a global surge, with a 57% increase in messages on Black Friday 2022. This increase signifies the growing reliance on technology to enhance the shopping experience and address customer inquiries promptly, showcasing the evolving nature of customer interactions in the digital age.

48% of online sales (up from 44% in 2021) originated from smartphones on Black Friday 2022. This data underscores the increasing reliance on mobile devices for seamless and convenient shopping experiences offered by the likes of Amazon, Walmart, Target, and new market entrant – TikTok Shop.

78% of web traffic originated from smartphones on Black Friday 2022. Evidently, ecommerce stores that are not optimised for mobile risk losing a large proportion of their traffic and sales this Black Friday. Over 1.31 billion people worldwide are using mobile payment apps in 2023. Furthermore, 13% of Black Friday online shoppers used Apple Pay to complete their transactions in 2022, up from 8% the previous year. 

Buy Now Pay Later (BNPL) experienced a 85% growth for online orders during Cyber Week in 2022 compared to the preceding week. Flexible BNPL payment options such as Klarna, Paypal, and Afterpay are becoming more popular as they provide consumers with greater financial flexibility and control over their shopping experiences. BNPL presents a budget-friendly option compared to credit cards and other loans that online businesses should be offering their shoppers, especially as interest rates soar.

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