If you’re a business owner or marketer, the sentence ‘it’s almost Black Friday’ can have you quaking in your boots. But, this year we’ve got you. We rounded up all the best Black Friday and Cyber Monday stats and trends so you can have the best sale season yet.
Grab your virtual trolley and let’s go shopping for some stats to boost your BFCM marketing strategy.
- What is BFCM?
- Key Black Friday marketing and trends statistics
- BFCM 2022: Consumer spending statistics
- Black Friday mobile sales & advertising statistics
- Why SMS should be a part of your Black Friday marketing plan
What is BFCM?
BFCM stands for Black Friday Cyber Monday, which is one of the biggest sales events in the world. Most people know Black Friday Cyber Monday as a weekend of frenzied shopping. However for business owners, BFCM is a huge opportunity to make sales and win new customers.
It all starts the weekend after Thanksgiving, the fourth Thursday of November. BFCM is the unofficial kickoff to the holiday shopping season.
Key Black Friday marketing and trends statistics
In 2022, we saw a record spend around the world along with a dominance in mobile shopping. And, brands took advantage of customers’ smartphone habit by tailoring Black Friday marketing and communication to match.
- Global online sales hit a record $281 billion during Cyber Week 2022.
- Nearly half (48%) of online sales were made on smartphones during BFCM 2022, up from 44% in 2021.
- Brands sent 68% more SMS on Black Friday than on Cyber Monday, resulting in a 57% increase in orders.
- SMS has a 98% open rate and 45% response rate. Comparatively, emails have a 45% open rate and 6% response rate.
BFCM 2022: Consumer spending statistics
Sales were well and truly up in the BFCM 2022 season compared to 2021. The statistics below show some of the consumer spending highlights:
- Cyber Monday sales were higher than Black Friday sales, $11.3 billion to $9.12 billion, respectively.
- U.S. consumers spent $211.7 billion during the holiday season, up from roughly $205 billion in 2021.
- Mobile sales comprised nearly 45% of total holiday revenue ($127 billion).
- E-commerce spending was up 12.5% YOY on Thanksgiving weekend 2022.
Black Friday mobile sales & advertising statistics
Mobile advertising was a clear favourite with marketers last year. And as a tactic, it stacks up considering how many shoppers buy via their mobile handset. The following stats show the mobile advertising opportunity this year:
- Mobile advertising spending hit a record $327 billion worldwide in 2022.
- Experts estimate mobile ad spending will hit nearly $400 billion by 2024.
- The mobile marketing market size is expected to increase five-fold by 2030.
- About 64% of all digital ad funds are devoted to mobile today.
- The U.S. remains the leading mobile ad market in terms of total expenditure.
- Social media is the most-invested in mobile ad format, expected to hit $160 billion in 2023.
Why SMS should be a part of your Black Friday marketing plan
Black Friday Friday marketing is crowded. Every message and campaign counts, which is why SMS has become an essential tactic for any BFCM strategy. Check the stats:
- One in three people who receive a CTA by text act on it, and 47% of those make a purchase.
- Far more people open texts than emails: SMS has a 98% open rate, while emails have a 45% open rate.
- SMS messages have a 45% response rate compared to emails at just a 6% response rate.
- Consumers are more likely to respond to cart abandonment SMS than email, with click-through rates of 36% compared to 3.2% respectively.
- Coupons delivered via text are redeemed 10 times more than any other channel.
- Half of consumers view promotional coupons as the most effective SMS messages they receive.
- Ninety percent of texts are opened within three minutes.
- More consumers are texting brands: 30% of millennials and 25% of Generation Z say they’ve contacted a brand via text.
- More than 50% of customers prefer transactional SMS to other customer support channels.
- Consumers deem 50% of SMS marketing messages that include a call to action “useful.”
Boost Black Friday sales with SMS
Want to add text messaging to your marketing strategy this sale season? We can help you get set up for Black Friday, Cyber Monday and beyond. Sign up for a free trial to test text messaging for yourself. Our 24/7 support team is always online to help.
Bring on BFCM.