As Black Friday 2024 approaches, consumer behaviors are shifting. Even with inflationary pressures, many shoppers are ready to spend, and brands that prepare early will be well-positioned to capture more sales. Here’s how you can use these insights from recent holiday shopping trends to make the most of this year’s Black Friday and Cyber Monday (BFCM) season.
1. Engage Early to Maximize Sales
Though most consumers do their holiday shopping in the last quarter of the year, 51% prefer holiday promotions to start before November. By launching your Black Friday campaigns early, you can capture the attention of shoppers eager to stretch their dollars. Consider offering early access deals or exclusive pre-sale events for your most loyal customers—these can create a sense of urgency and build excitement.
Tactics to Get Started:
Countdown Timers: Add these to your campaigns to build anticipation.
Low-Inventory Alerts: Notify shoppers of limited stock to drive immediate purchases.
Price-Drop Alerts: Trigger FOMO (fear of missing out) by alerting customers when a discount is live.
Thank-You Offers: Post-purchase, send thank-you emails with future discount codes, encouraging repeat visits within 1–3 months.
2. Focus on Value with Tiered Discounts and Bundles
Inflation is pushing many shoppers to spend wisely. Offering discounts and flexible payment options can help lower-income earners feel comfortable shopping with your brand. Meanwhile, shoppers at higher income levels tend to lean towards online shopping, while those with lower incomes often shop in person. Tailoring your BFCM strategies to each audience can help you reach them effectively.
Strategies for Value-Seeking Shoppers:
Tiered Discounts: Offer varying discounts based on purchase thresholds to encourage larger basket sizes.
Bundles: Group related items together to provide more value and make gift-giving easier.
Flexible Payments: Give customers multiple payment options to make holiday purchases more accessible.
3. Build Loyalty to Retain Customers Long-Term
With shoppers looking for fewer, more meaningful purchases, loyalty programs are an ideal way to keep your brand top of mind. Offering exclusive perks—like early access to deals or personalized gift recommendations—can encourage shoppers to return, even in a challenging economy. By rewarding customers for their loyalty, you turn one-time holiday buyers into repeat customers.
Ways to Build Customer Loyalty:
Early Deal Access: Let loyalty members shop sales before everyone else.
Personalized Gift Suggestions: Send curated recommendations that cater to each customer’s interests.
Bonus Points: Encourage spending by offering double or triple loyalty points on holiday purchases.
4. Use Email to Drive In-Store and Online Traffic
Email is a valuable tool to reach both online and in-person shoppers. Use it strategically to drive visitors between your website and physical stores. Include store-specific promotions and in-store pickup options to bring online shoppers to physical locations.
Effective Email Tactics:
Website-to-Store: Send online-exclusive offers that encourage in-store pickups or visits.
Store-to-Website: Promote online deals to foot traffic customers, making it easy to shop again on your website.
Final Thoughts
In 2024, Black Friday is about more than just discounts—it’s about building long-term relationships and adding real value for your customers. By focusing on early engagement, delivering meaningful discounts, rewarding loyalty, and preparing strong campaigns, you’ll be well-equipped to make this holiday season a success.
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