MarTech Cube

Retailers See 5% Increase in Black Friday Orders Despite Inflation

Despite Black Friday promotions beginning earlier than ever this year, retailers saw an 11% increase in day-of Black Friday site traffic, 5% increase in number of orders, and a 1% increase in average order values compared to last year, according to new insights from Bluecore. The retail marketing platform reports that of all shoppers who made their first purchase from a brand in 2022, an average of 5% returned to make a second purchase with that brand on Black Friday. The complete report is available here.

For the fifth year in a row, Bluecore looked at shoppers’ real-time and historical Black Friday shopping patterns, as well as their interactions with products (including purchases), across 138 retail brands and eight retail categories: Apparel (57)Sporting Goods & Outdoor (19), Home Goods (16), Footwear (11), Consumer Electronics (10), Gifts & Floral (9)Jewelry & Luxury (9) and Health & Beauty (7). The result is a comprehensive look at this year’s day-of Black Friday behaviors, as well as a comparative look at Black Friday 2021.

Bluecore analyzed 729 million shopper events on brands’ ecommerce sites, including shoppers viewing products and completing sales transactions. The resulting data was derived from 91 million first-party cookies and represents interactions with 4 million unique products3.2 million orders and $388 million in total sales.

Among the findings from Bluecore’s Black Friday 2022 Report:

Average order values remained relatively consistent among first-time and repeat buyers. First time orders averaged a value of $128 while second-time shoppers and beyond spend an average of $118.

“Consumers started their holiday shopping earlier than ever this year and are navigating higher product costs due to inflation. These trends, paired with retailers’ efforts to bring back their existing shoppers — rather than simply attract new ones — resulted in more loyal shoppers buying from brands they already trust,” said Fayez Mohamood, CEO of Bluecore. “The sheer volume of shoppers who made repeat purchases during Black Friday speaks to the massive opportunity for retailers to grow through identifying anonymous shoppers and focusing on engagement to drive more purchases and long-term growth.”

Bluecore’s platform combines a deep understanding of shoppers’ always-shifting behaviors with a comprehensive view of retailers’ live product catalogs. The result is the ability to deliver precision messages to shoppers when they are most likely to buy, no matter where they are.

Tune in to Martech Cube Podcast for visionary Martech Trends, Martech News, and quick updates by business experts and leaders!!!