The end of November is a very special date for technology lovers, as two of the most important promotional campaigns of the year come together to offer very good deals, especially in the technological field.
Black Friday, the last Friday in November, and Cyber Monday, the first Monday after Thanksgiving in the United States.
Marketing has taken over society and citizens take advantage of both days to buy products at discounted prices.
The offer is multiple and extends from physical stores to online stores From a Robust hosting for PrestaShop to a video game bundle, many of the products are discounted considerably.
What do we expect from the 2024 campaign? This year's Black Friday is on Friday, November 29. The peculiarity of this season is that Cyber Monday is just around the corner, three days later, so it seems that companies will overlap both campaigns. This means that the offers can last for two weeks.
While Black Friday started out as a one-day special offer to clear stock, more and more stores are now deciding to extend their sales for a whole week.
The results are apparently very positive, as it is becoming more common to maintain special promotions for seven days rather than limiting them to just one day.
Turnover grows by more than 20%
Cyber Monday theoretically affects only technology, which is why it is less known among citizens.
In any case, the Internet is a very powerful tool for dissemination, so many users end up finding offers, even if they do not have the initial intention of buying. In 2024, both campaigns will be continuous and what is not sold in the first week could be reduced in price in the following week. The opportunity to find technology (and other types of products) at a good price is unbeatable.
Sales expectations for Black Friday 2024 are very promising. The growth of e-commerce is a reality, while more and more users are aware of this campaign and are waiting for the date to make their purchase at a reduced price. A recent report on the viability of these campaigns makes a very positive forecast for the industry: Online sales will increase by 24% during Black Friday.
The average online spending is expected to reach 200 euros per person. For Cyber Monday, expectations are also very positive: turnover in the sector will grow by 18% while the average spending per customer is 175 euros.
Technology leads sales
Projections indicate that electronics will lead online purchases during this campaign, a common fact that has been maintained over the last decade, when this commercial action has been consolidated.
In addition to the marketing issue, since it is a campaign initially focused on technological products (although it has been increasing to other products), it must be taken into account that Other sectors such as fashion or leisure have more room to reduce prices..
The same does not occur with household appliances, telephones, computers, etc.; and thanks to the good acceptance by the public, this day becomes the ideal day to make aggressive offers without selling at a loss.
The group of industries that will sell the most on Black Friday is completed with travel, health and beauty; a trend that has prevailed in recent years as consumers seek to purchase high-value products at more affordable prices.
Online shopping has become part of consumer habits, and more and more users are choosing this channel to avoid queues and crowds and to compare prices easily.
Key date for retail media
Retail Media is emerging as a key tool for connecting with consumers bombarded by multiple brands during this time.
It refers to the market strategy that means placing advertising in retailers, which are those Traders who buy in large quantities and sell the final product in small quantities.
Black Friday and Cyber Monday campaigns are already a central event in the retail calendar, which motivates brands to design effective strategies to attract new customers. Through various channels, retailers can show their offer in a segmented way and target a more receptive audience than at other times of the year.
This type of strategy not only generates additional revenue, but also optimizes marketing campaigns and allows for personalized customer experience. In a competitive environment like the current one, this tool is essential to improve profitability, especially during periods of intense promotional activity such as these two campaigns.
Black Friday represents a unique opportunity for retailers to gain new customers.
To do this, it is essential that you prepare in advance so that you can handle the expected increase in traffic and sales.
