1. Majority of BFCM Customers Are New, But Few Return
50% of BFCM customers in 2022 were new to the stores. This indicates a significant opportunity for customer acquisition during BFCM. They also had an impressive AOV of around $111. On the flip side, only 13% of these new customers returned to shop again
Returning customers shopping during BFCM had an AOV of around $101.15
BFCM-only customers (people who last ordered more than 361 days ago), had an AOV of $99.80
Tip: Merchants should focus on post-purchase engagement strategies to increase retention rates for BFCM. This could include loyalty programs, targeted email campaigns, and exclusive offers for BFCM customers.
2. Sales and Discounts Skyrocket hungary telegram screening on Black Friday
Sales on Black Friday were almost 5x the daily average
Stores offered the highest discount (average discount ratio during BFCM was 14%) on Black Friday at 19.78%.
Tip: Target marketing towards recent shoppers before BFCM. A strategic email marketing campaign closer to BFCM can be highly effective in converting these signups into sales.
4. Non-BFCM Customers Show Better Spending and Loyalty Metrics
Non-BFCM customers, especially those who made their first purchase in April, showed better ACLV, AOV, ARPU, and a higher retention rate than BFCM customers.This highlights the importance of balancing promotional strategies throughout the year and not just focusing on BFCM
BFCM customers were more likely to be one-time shoppers, while non-BFCM customers had a higher probability of making repeat purchases (as mentioned earlier, only 13% of BFCM shoppers became repeat customers).
Tip: To encourage repeat purchases from BFCM customers, offer exclusive deals or early access to BFCM customers for their next purchase to motivate them to become regular shoppers.