Black Friday 2024
Your guide for navigating BFCM 2024
Black Friday and Cyber Monday, or BFCM, is one of the biggest yearly retail events. This is the time for businesses to get as many customers to their online and offline stores as possible and do everything they can to separate themselves from their competition. Download the report to learn insights from previous years and prepare yourself for this one.
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Black Friday and Cyber Monday Round-Up 2024
This report provides an in-depth analysis of consumer behavior and sales trends observed during Black Friday and Cyber Monday. It leverages proprietary data from Katana’s customer base, as well as information from external sources. It covers key metrics like order volume, revenue trends, and industry-specific demand shifts compared to BFCM 2022.
About the guide
Key trends and observations from the report
Katana’s latest research uncovers significant shifts in consumer behavior during Black Friday and Cyber Monday. Despite a surge in sales order volumes, consumers are spending less per transaction, signaling economic caution.
Consumers are spending less despite increased sales volume
Despite a 53% increase in sales order volume during BFCM week, the average order value dropped by 41.8%. This trend highlights the importance for businesses to adjust their pricing and marketing strategies to align with consumer spending habits.
Cyber Monday outperforms Black Friday in revenue generation
Looking at 2022 vs 2023, Cyber Monday emerged as the most lucrative day, with a 43% increase in sales orders and a substantial 70% rise in revenue.
In contrast, Black Friday saw a 70% boost in sales order volume but experienced a 1% decline in revenue. This shift underscores the growing prominence of online shopping and suggests that consumers are more willing to make significant purchases at the end of the BFCM weekend.
Shift toward high-ticket items in specific industries
There was a notable increase in demand for high-ticket items in certain categories:
- Furniture, home, garden — Sales order volume up by 59%
- Computers, electronics — Sales order volume up by 51%
Conversely, industries like cosmetics saw a 27% decrease in sales order volume. This shift suggests consumers are prioritizing larger, more substantial purchases during Cyber Monday, taking advantage of significant discounts on high-value items.
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