Black Friday&Cyber Monday

Benchmark
Report

Where Does Your Shop Stand?
Let`s Roll

How much more do people actually buy?

Is the audience the same or entirely new? Do people who buy on Black Friday show different behavior patterns than your usual customers?
This report summarizes the behavior of millions of consumers during Black Friday and Cyber Monday. It’s based on:

17,597,364
consumers
97,210
Products purchased
512
Online Stores

One of the biggest online shopping periods worldwide

$7.4 billion

Black Friday brought in sales this year — which is even higher than last year’s record-breaking $6.2 billion.

This report reveals all the real numbers and data behind this period of the year.

Unlike other data sources, which are based on surveys and data sampling - Oribi’s Black Friday Benchmark Report is based on the aggregated customer data of 17,597,364 visitors to 512 eCommerce websites who purchased 97,210 products. You can take full advantage of this massive influx of online shoppers and reap the sales rewards. If you don’t know Oribi - it’s a marketing analytics tool that runs on over 10,000 websites.

The team at Oribi produced this report based on real consumers’ behavior.
This research includes data about traffic, the total number of purchases, changes in the sales funnel, sales across different verticals, average product costs, breakdowns by channels, and various consumer data, such as the country they are from, the device they used, and whether they previously visited your shop or are first-time buyers.

Sales

How much more do people actually buy during Black Friday and Cyber Monday?

Online sales double a week before Black Friday.

2.3Xsales
increases

With so many discounts ahead, purchase rates slightly drop in the middle of November, indicating that consumers prefer to wait a week to get the better deal.

geo-info
Geo Check
map-desktop map-mobile

Asian Market buys

7Xmore on
black friday

Black Friday is clearly the more important day for Asian online shops.

Consumer Behavior

Do consumers behave differently when buying online during the Holiday sales?

How many of the visitors to the online stores actually buy?

Consumers’ behavior online changes during these days - they’re much more likely to add products to their cart,but less likely to complete the purchase.

Here's a peek into people's brains

How does the funnel change in the event of a sale?

  • Yearly Average
  • Black Friday
  • Cyber Monday
diagram
6%
42%
54%

During Black Friday promotions, visitors are almost twice as likely to add items to their cart. This is a common behavior for people who see discounted items. It’s like entering a shop with everything on sale, then finding yourself a few minutes later with a pile of clothes you didn’t intend to buy. Highly interesting, though, is that while visitors are much more likely to ‘grab an item’ they’re less likely to complete the checkout.

In the average funnel, over 40% of the visitors who continue to checkout will complete the purchase. However, on Black Friday only 30% end up buying. Consumers are aware of their ‘hasty’ behavior, even with a big “Sales” sign.

As the famous Jam Experiment from Columbia and Stanford University showed, an overload of choices can actually have a negative effect on sales, and customer satisfaction also takes a hit. Visitors might simply get lost browsing for more and more deals, end up frustrated, and ultimately buy nothing.

The behavior on Cyber Monday is different, and the checkout rate is much closer to the average funnel. Based on the data, it seems that Cyber Monday buyers are more determined, knowing it’s their last chance to claim the discount, and are more keen to complete the purchase.

Acquisition

Which marketing channels drive the most traffic and from which ones are visitors most likely to buy?

Traffic Increase by

2.5X BLACK FRIDAY & CYBER MONDAY
the traffic sources remain about the same.
acquisition-diagram-1 Cyber Monday
acquisition-diagram-2 Black Friday
  • Direct
  • Facebook
  • Google
  • Google Paid
  • Instagram
Channel Yearly average conversion rate
Direct 2.06%
Facebook 0.60%
Google 1.20%
Google_paid 1.57%
Instagram 0.28%
Traffic by itself doesn't indicate much about sales. Some channels might drive a lot of traffic and hardly any sales, while others drive low traffic but a high number of sales. The conversion rate metric reflects the % of visitors who ended up purchasing on the website.

The conversion rate is usually impacted by the intent - do visitors arrive to the website with a high intent to buy? You can see in the table below that channels which indicate a higher intent convert better.

Direct traffic (visitors who arrive at the website directly or via emails) are most likely to buy. In second place are the visitors coming from Google, either paid or organic, who are probably looking for a specific product this online store sells. And, in third place, we see Facebook and Instagram with a very low conversion rate compared to the other main channels. Visitors from Facebook and Instagram arrive with a much lower intent - they arrive from a general post or ads that target a wide audience.
Channel Yearly Average Conversion Rate
C. Rate
CBF/CM Conversion Rate
C. Rate
Direct 2.06% 2.59%
Facebook 0.60% 0.64%
Google 1.20% 1.93%
Google_paid 1.57% 2.23%
Instagram 0.28% 0.57%

New vs.
Returning Customers

Are Black Friday customers new or already loyal customers of these stores?

most of them are first time visitors, but this trend is similar to their behavior throughout the year.

The split between first-time and returning visitors remains almost the same during an average day and Black Friday/ Cyber Monday.

The numbers are almost the same with a slight decrease in purchases by first time visitors on Black Friday/Cyber Monday.

First 3 weeks of November
new-vs-returning-diagram-1
BF / CM
new-vs-returning-diagram-2
55%
Number of sessions before the purchase:
  • 1
  • 2
  • 3
  • 4-5
  • 10+

Mobile vs. Desktop

Is there a difference in mobile and desktop usage during the Holidays?
Yearly average
55% 45%
Mobile
Desktop
BF / CM
60% 40%
Mobile
Desktop

There’s only a slight increase in mobile usage for the Holiday season.
Five percent more visitors prefer to shop from their mobile phones as opposed to their desktops.

Summary

Black Friday promotions have a huge impact on online shops worldwide.

Sales Increase by

3.5X Black Friday
5X Cyber Monday

Asian Market do it better

7.5X Higher than usual

Big Spenders

These promotions have the biggest effect on expensive products with an average price 500$ Products and up

Consumer behavior also changes:

deals trigger more consumers to add products to their cart. However, people also seem to be more aware and show a lower willingness to actually complete their purchases during Black Friday. On the other hand, Cyber Monday buyers, knowing it’s their last chance to claim the discount, are more determined to complete their purchases.