BFCM 2023

BFCM Insights & Actionable Tips

Majority of BFCM customers are new, but few return

50% of BFCM customers in 2022 were new to the stores. This indicates a significant opportunity for customer acquisition during BFCM. They also had an impressive AOV of around $113. On the flip side, only 13% of these new customers returned to shop again.
Returning customers shopping during BFCM had an AOV of around $100.02.
BFCM-only customers (people who last ordered more than 361 days ago), had an AOV of $100.26.

Majority of BFCM customers are new, but few return.
Percentage of daily revenue based on last order date.

Tip

Merchants should focus on post-purchase engagement strategies to increase retention rates for BFCM. This could include loyalty programs, targeted email campaigns, and exclusive offers for BFCM customers.

Sales and discounts skyrocket on Black Friday

Sales on Black Friday were almost 5x the daily average
Stores offered the highest discount (average discount ratio during BFCM was 16%) on Black Friday at 19.75%. Average discount ration during the year is 9.07%.

The average daily AOV during BFCM was $107.5, compared to the regular daily AOV of $90.50.

Sales and discounts skyrocket on Black Friday.
BFCM 2022 average order value (AOV).

Tip

Planning promotions and ensuring stock availability leading up to and on Black Friday is crucial for maximizing sales and keeping up with the sales spike.

Recent shoppers and sign-ups drive BFCM sales

Almost 40% of returning customers' revenue came from those whose last purchases were within 2 months.

35% of BFCM revenue came from customers who signed up within the 6 months leading up to BFCM.

Even more notably, over 50% of BFCM's new customers signed up within 12 days before BFCM.

Tip

Target marketing towards recent shoppers before BFCM. A strategic email marketing campaign closer to BFCM can be highly effective in converting these signups into sales.

Non-BFCM customers show better spending and loyalty metrics

Non-BFCM customers, especially those who made their first purchase in April, showed better ACLV, AOV, ARPU, and a higher retention rate than BFCM customers.This highlights the importance of balancing promotional strategies throughout the year and not just focusing on BFCM
BFCM customers were more likely to be one-time shoppers, while non-BFCM customers had a higher probability of making repeat purchases (as mentioned earlier, only 13% of BFCM shoppers became repeat customers).

Tip

To encourage repeat purchases from BFCM customers, offer exclusive deals or early access to BFCM customers for their next purchase to motivate them to become regular shoppers.

Read more in our article

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