In this guide, we’ll cover everything you need to know about Black Friday 2022: why this is such an important event for retailers, which solutions you can use to create the optimal experience for your customers, what are the benefits of starting to create your online strategy early, and more. Become a Black Friday pro and beat your competition!
What is Black Friday?
Crowded stores, extremely long queues, and the mad rush for bargains: that’s how Black Friday used to look like. But – not anymore. As a retailer, it’s crucial to push your sales earlier than ever since the shift to digital happened. Everyone is shopping online, looking for the best deals possible comparing you with your competitors. The first focus point is to start creating your own Black Friday strategy early, so you come prepared. Of course, we will provide you with some easy-to-use tips to enter the biggest shopping event of the year without a hassle.
What’s the date of Black Friday?
First things first: the official Black Friday date for this year is Friday, November 25, 2022. Every year this date shifts, but the day of the week always stays the same: it’s the Friday after Thanksgiving. But why does Black Friday matter so much? Because customers see this event as a start line for the Christmas shopping season.
How long do Black Friday sales last?
Don’t get fooled by thinking that Black Friday only lasts one single day. That’s not the case here. Initially, this used to be a one-day sales event, but nowadays, it’s a four-day or even a period up to a month. The Black Friday shopping season begins early November, way before the actual shopping day. Deals will continue on until a week after Cyber Monday, so start selecting the products you want to promote for your Black Friday sale early on and get ready for these crazy shopping-spree days.
Is Cyber Monday bigger than Black Friday?
The short answer to that question is that Cyber Monday has better deals overall – but it’s a close call. Cyber Monday deals are following up on Monday, November 28, 2022. Deals on that day have a slightly different approach, they’re more tech-focussed. A general unwritten rule is that Black Friday is a better time to buy newer, big-ticket items. For smaller gifts and tech deals, Cyber Monday is a smarter day to make your purchase. Over the past few years, Cyber Monday has become bigger and bigger. Retail sales on Cyber Monday in 2020 soared to a record high of $10.8 billion online, according to Forbes. This number is so high because this day is all about tech products, which usually have a high purchase price. The products retailers offer will vary, so if you’re looking for a specific product it’s better to buy it on Black Friday.
Numbers don’t lie: Black Friday sales are booming
To show the impact of Black Friday, let’s see some numbers. Black Friday is predicted to be a critical time for many retailers to make up for any slower performances during the first six months of 2022. Here are some key insights:
- According to Adobe Analytics, 2020 saw a 21% uplift in consumer online spending marking it the second-largest online spending day in U.S. history
- In 2020 Black Friday sales were up 139% globally when compared to October
- e-Commerce Average Order Value was estimated around $135-142
- e-Commerce stores saw a 24% increase in revenue as compared to the average over the course of the year
- In Europe alone, the value spend on Black Friday in 2020 was around €26 million, with the UK as the biggest spender, according to Statista
- About 37% of all U.S. holiday retail sales have been made during this period