With Black Friday 2020 just around the corner, we are already hearing rumors about how this day will play out. 2020 has been a different year for everyone, including the online sector. eCommerce has consolidated and physical stores are gradually losing ground.
This year we may not see images of crowds stampeding into shopping malls, but online stores will certainly notice the increase in traffic. That’s no surprise considering that total retail sales in Spain may fall by 12.7%, while eCommerce may grow by 23%. Source: eMarketer.
Given this scenario, it’s no wonder this year’s Black Friday has the whole sector on edge. Covid-19 has led customers who had never bought online to do so, and sectors that struggled to move beyond physical stores, such as food, have done so by a wide margin.
Okay, that’s all well and good, but some of you will say consumers will be more cautious and won’t want to spend, so sales will be lower than in other years. According to an Adobe Analytics survey, Black Friday and Cyber Monday shopping volume this year could be 20% higher than last year. Is your campaign ready?
Let’s look at what the Black Friday 2020 shopper will be like.
The Black Friday 2020 shopper
According to a Google survey:
- 64% will think carefully about what to buy before going out; they will be more cautious about visiting stores due to the risk of infection.
- We are seeing a more forward-thinking shopper who brings Christmas shopping forward, mainly to avoid crowds.
- Shoppers are no longer afraid of the online channel. 62% will prioritize buying online.
Another interesting finding from this survey is that we have broken the age barrier. The fastest-growing shoppers are between 35 and 64 years old. They are users familiar with technology who had not bought online due to a lack of trust.
Many of these shoppers haven’t decided what they will buy yet; it will depend on the quality and quantity of the offers they receive. The most forward-thinking start looking for deals a month in advance, consolidating the Black Month phenomenon.
That’s why, if you have an online store, it’s important to start attracting new traffic and audiences to your site in the months before Black Friday. Then, when D-day arrives, you can reach users who already know you with your offers and get more conversions. Keep in mind that more than half of users search on search engines beforehand and 32% on social media. If you want to get ready for Black Friday, we explain how to prepare a Facebook Ads campaign in this post. And if you want to reach Gen Z, don’t forget TikTok.
Which sectors will benefit from Black Friday 2020
Clearly every sector has gone through changes it has had to adapt to very quickly. Which sectors will benefit most this Black Friday?
Fashion and accessories
It has been one of the sectors hit hardest in physical stores. This year all fashion eCommerce stores will compete globally online. In retail, many physical stores have made the move online, and now they need to improve and adapt the user experience to secure more conversions.
32.26% of shoppers have “Clothing and accessories” in mind for their Black Friday purchases.
Electronics and technology
The big leader on Black Friday. The main challenge for electronics stores is standing out from their competitors.
In such a competitive sector, paid campaigns are especially important to stay visible. Differentiation, price competition and market saturation are the challenges facing electronics and technology eCommerce stores.
26.15% of Black Friday purchases could be in this sector: TVs, consoles or smartphones. A good email marketing and retargeting strategy in the months before Black Friday can help build customer loyalty so they choose you for their purchases that day.
Health and beauty
Health and beauty searches have grown 36% in 2020, compared with 8% in 2019. Personal care products and natural cosmetics have gained popularity. Like fashion, this sector is seeing sales shift from the offline to the online channel.
eCommerce stores such as online pharmacies and beauty shops have many SKUs in their catalog; keeping an up-to-date feed and good stock management can be a big help this Black Friday 2020.
Home products
There is no doubt that the furniture and home décor sector had an intense time during the lockdown months. It has had to go digital due to the high demand for these products online.
With more competitors appearing online, now is the time to set yourself apart. A good website that offers a shopping experience similar to the physical store is key for this sector.
Are you ready for Black Friday 2020?
Black Friday kicks off the Q4 sales peaks: Black Friday, Cyber Monday, Christmas and the Sales. This year, given everything we’ve been through, we’re all waiting to see what happens online. Will we see incredible deals? How much will sales multiply? Are all sectors established online?
The most important thing is planning and getting ahead of these dates. A good marketing strategy is key; there is no point jumping on the deals bandwagon at the last minute. Generic product searches already start in October. In the month before, shoppers are in a discovery and comparison phase. That’s the time for Branding campaigns so they get to know your brand. By mid-November searches are already branded: shoppers have a clearer idea of where they will buy on Black Friday.
What’s clear is that 2020 is proving to be an unpredictable year. Online commerce will be the undisputed star due to restrictions on physical stores. At Trilogi we are getting ready for an unprecedented Black Friday. What about you, are you ready?
