Actionable Tip:
Use Black Friday 2024 as a stepping stone for 2025 by creating retargeting campaigns that follow up with customers throughout the year. Encourage them to join loyalty programs or sign up for exclusive updates, turning seasonal buyers into year-round customers.
Table of Content
As we look ahead to Black Friday 2024 on November 29, e-commerce businesses must consider key insights from 2023 sales events and new developments in the 2024 e-commerce landscape to maximize success. Black Friday, which saw $9.8 billion in online sales in the U.S. in 2023, continues to be a pivotal day for retailers, but it's essential to adjust strategies based on evolving trends and consumer behavior.
As always, customer preferences and key opportunities and challenges have changed compared to last year. The supply chain will play an important role this year, and finding the right marketing tactics will be more important than ever. To answer the question "how to prepare for Black Friday 2024?", we’ve prepared the 8 relevant tips for Black Friday 2024 in this article.
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Black Friday Tip #1: Capitalize on Early Holiday Shopping Trends
The 2024 holiday shopping season kicked off earlier than ever, fueled by events like Amazon’s Prime Big Deal Days in October, which broke previous sales records. This surge in early shopping suggests consumers are starting their holiday buying sooner, particularly to avoid stock shortages or delayed deliveries. The two-day Prime Big Deal Days 2024 event saw millions of shoppers grab early deals, creating a competitive edge for brands that were prepared with promotions and optimized listings
Actionable Tip:
Start building anticipation by offering early access to Black Friday deals through email marketing and social media campaigns. Leverage this trend by promoting your best products during pre-Black Friday events to capture early spenders.
Black Friday Tip #2: Optimize Inventory and Fulfillment Processes
Supply chain stability continues to be a critical factor in 2024. Many retailers faced challenges in 2023 with inventory shortages and fulfillment delays, issues likely to repeat. Amazon’s 2024 shopping events showed the importance of robust stock management - running out of key items means missed opportunities, especially as events like Prime Big Deal Days drive major traffic.
Actionable Tip:
Ensure your inventory levels are prepared for both Black Friday and the holiday rush. Work closely with fulfillment partners to communicate expected volumes early, minimizing potential disruptions.
Black Friday Tip #3: Maximize Profit, Not Just Revenue
In 2023, many e-commerce merchants focused on aggressive discounting, but with inflation and rising costs, profit margins were squeezed. For 2024, focus on maintaining profitability by experimenting with discount levels and offering high-margin items to drive sales without sacrificing profits.
Actionable Tip:
Test different discount percentages (e.g., 5% vs. 15%) and assess how they impact both conversion rates and profit margins. Consider offering exclusive bundles that increase cart size while maintaining profitable margins. Create a positive customer experience so that buyers will return and increase the CLV (Customer Lifetime Value).
Black Friday Tip #4: Leverage Emerging Technologies
One of the major advancements in 2024 has been the growing use of AI tools to enhance the customer shopping experience. During Prime Big Deal Days, Amazon introduced features like AI shopping assistants and personalized product recommendations through Rufus and Inspire, leading to higher customer engagement and more conversions.
Actionable Tip:
Implement AI-driven tools on your website to offer tailored product recommendations, create urgency with countdown timers, or even chatbots that can handle customer queries instantly, reducing cart abandonment.
Black Friday Tip #5: Focus on Sustainability and Ethical Shopping
Sustainability is a growing factor influencing consumer decisions in 2024. As brands move toward eco-friendly packaging and carbon-neutral shipping options, consider incorporating sustainability messaging into your Black Friday campaigns. Consumers, particularly in Europe, are increasingly prioritizing brands that demonstrate environmental responsibility.
Highlight sustainable practices in your marketing campaigns, such as eco-friendly packaging or carbon-neutral shipping, which can help you stand out from competitors during Black Friday.
Consider using greener options for packaging and delivery.
Black Friday Tip #6: Fine-Tune Your Email and Social Media Marketing
With email marketing still generating some of the highest returns on investment, ensure you’re segmenting your audience and personalizing content for Black Friday 2024. In 2023, emails with personalized subject lines increased open rates by 22%, making it a key area to optimize.
Actionable Tip:
Create segmented email campaigns based on customer behavior (e.g., repeat customers vs. first-time buyers). Use dynamic content to tailor offers and include scarcity triggers like “limited stock” or countdowns to drive urgency.
Create segmented email campaigns based on customer behavior (e.g., repeat customers vs. first-time buyers). Use dynamic content to tailor offers and include scarcity triggers like “limited stock” or countdowns to drive urgency.
Black Friday Tip #7: Make Your Visitors Convert
Once you have managed to get some traffic on your website or your product page, you are so close yet so far to making that sale. 69.57% is the usual benchmark for e-commerce checkout abandonment in 2022 and that number probably doesn't differ too much in 2024. For mobile traffic, this number is even higher than 80%.
Enhance Website Design
A clutter-free, intuitive design keeps users engaged and encourages them to complete purchases. Ensure key CTAs are prominent, and the path from product page to checkout is smooth and distraction-free.
Create Urgency
Instill a sense of urgency by adding countdown timers for limited-time offers or showing low-stock warnings. This psychological trigger compels customers to act fast, especially during the intense shopping rush of Black Friday.
Implement Live Chat
Offering live chat during high-traffic periods helps reduce abandonment. Answering customer queries in real-time can address concerns that might otherwise lead to drop-offs. Analyze common questions and develop proactive responses to further optimize the shopping experience.
Optimize Shipping Options
Two of the main reasons for cart abandonment are high shipping costs and delivery times. Offering free shipping on orders above a certain threshold can incentivize customers to complete their purchase. Partnering with a fulfillment company or improving in-house logistics can help meet customer expectations for fast, reliable delivery.
Actionable Tip:
Use cart abandonment email campaigns to follow up with potential customers. Offering small incentives, such as a discount code or free shipping on their next purchase, can help recover lost sales. Streamlining your return policies can also build trust and ease the purchase decision.
Learn more about an efficient reverse logistics process.
Black Friday Tip #8:Focus on Post-Sale Retention to Kickstart 2025
Many brands evaluate Black Friday success solely on the day’s sales, but the real opportunity lies in using it as a launchpad for future customer retention. Shoppers are more willing to try new brands during this period, making it the perfect moment to start building long-term relationships.
Enhance the Unboxing Experience
First impressions matter. Branded packaging not only delivers the product but also creates a memorable experience that helps customers associate value with your brand. Including a small thank you card or discount coupon for their next purchase encourages future shopping.
Leverage Post-Purchase Campaigns
Follow up with post-Black Friday emails that nurture these new customers. Tailor these messages based on their purchase history, offering product recommendations or exclusive discounts. This increases the likelihood of repeat business.
Loyalty Programs
Incentivize customers to stay loyal by offering VIP access to future sales or launching loyalty programs that reward frequent purchases. Consumers love feeling special, and loyalty programs create a reason for them to keep coming back.
With these 8 tips for Black Friday 2024 and your expertise as a merchant, there’s nothing that can hold you back.
Good luck with your endeavor!