BFCM is getting bigger
This year is very different. The way people eat and drink around the world is changing, and the global pandemic has only made this change happen faster.
Black Friday and Cyber Monday (BFCM) have always been good sales incentives, but it is very interesting to see how the world situation has changed what is becoming the biggest sales period of the year.
Total BFCM sales through Shopify around the world: $5.1 billion
Analysts said that this year, the number and value of goods sold during BFCM will go up in a way that has never happened before. After being locked up and limited for more than six months, people want to feel better and get ready for the holidays in the best way possible.
In general, BFCM has also been a good place to see what the trends will be for the coming year.
Smartphones are on the rise!
Adobe looked at the transactions on the websites of 80 of the top 100 US online retailers and found that people spent about $6.3 million per minute online, or an average of $27.50 per person.
Compared to last year, spending on smartphones went up by 25.3%! People were less likely to leave their safe homes because of the pandemic. Instead, they shopped from their couches to avoid crowds, waiting in lines, and the risk of getting sick. This is a trend that will probably keep going next year, and it shows!
Smartphone spending reached $3.6 billion, which is about 37% of all e-commerce spending in the US. This shows how important it is for merchants to have a store interface that works well on mobile devices.
Shopify data shows that the number of sales made on smartphones even reached 70% for Shopify store owners.
In the US, the numbers are going up
- Online sales on Cyber Monday reached $10.8 billion, which is 15.1% more than last year.
- So far this season, people have spent $106.5 billion online, which is 27.7% more than last year.
- The day after Thanksgiving, people spent $9 billion, which is up 21.6% from last year.
- Early data from Adobe shows that online sales for Giving Tuesday (12/1) could reach $4.1 billion.
- 25% of all Cyber Monday sales happened between 7 and 11 p.m. PST, which is called the “golden hours of retail.”
- 37% of all Cyber Monday sales were made through mobile devices.
- Sales at brick-and-mortar stores are down 23.9%.
- Thanksgiving weekend foot traffic was down by 41.3%, and mall traffic was down by 44% during the same time period.
- Cyber Monday saw a 23% drop in foot traffic.
Shopify by the Numbers Worldwide
Total BFCM sales through Shopify around the world: $5.1 billion
At 12 p.m. EST on Black Friday, sales were $102 million in one hour.
$89.20: Average cart price
Compared to BFCM 2013, the number of Shopify users has grown by 50%.
76%: More sales around the world than at BFCM 2013
What to Know?
Sales keep going up, with a 15.1% increase from one year to the next in the US and a 76% increase on Shopify.
As expected, online sales (which have decreased foot traffic by 41.3%) and mobile sales (which have gone up by 37%) are taking over more and more of the market.
Sales for independent sellers have gone up by 50%, which is a good sign. This trend is likely to keep growing because more and more people are buying things online and going to stores less and less (23.9% drop in sales), which gives independent sellers more chances to make money.
2023 looks very good for stores and online shopping
Customers’ buying habits are changing quickly because of the pandemic, and even when things get back to “normal,” this probably won’t stop.
We hope this information helps you. It’s never too late to start selling things online. There will be dropship-empire around to help you.