Black Friday 2020 has arrived and we’re excited to be able to bring you live updates throughout the day.
(9.00 am UK) To kick us off today we’ve seen more sales volume activity in 2020 vs. 2019 from 1am until 4am. However, since 6am sales have dropped slightly versus 2019.
(11.00 am UK) After being initially overtaken at 6 am, traffic sessions for 2020 have now retaken a lead at 9 am versus 2020. This is broadly in line with UK Abandoned baskets.
Will abandoned baskets increase throughout the day? So far they are up in comparison to 2019.
(11.45 am UK) Average Order Value (AOV) is an important metric. Getting additional revenue through up-sell can make or break a sale campaign. During Black Friday this metric can sometimes be skewed due to large discounts. So far this year the average basket value is £121, £6 more than the average basket in 2019. It would appear people are cautiously starting to buy more.
(1pm UK) Sessions stats in the UK are now pulling ahead of 2019. This is starting to correlate with sales figures.
(1.25 pm UK) Looking at the current data for sessions, basket abandonment and sales for Black Friday 2020 in the UK so far, we can see a high volume of traffic and a slight lift in sales and abandoned baskets. This could be linked to people researching items in the build-up to lunchtime (historically a period of high online sales volume). The lift in abandoned baskets is a direct result of the higher traffic. More traffic, more abandonments.
(2 pm UK) The travel industry has been harder than many throughout the COVID19 pandemic. The government in the UK have released a tiered plan as we emerge from lockdown. This recent update could have potentially aligned with travel agents, hotels and airlines trying to build back their industry. We’re seeing early signs from basket abandonments today that suggest people are still looking and putting holidays, bookings and trips in their baskets. Is this the first sign of a recovery for the travel industry?
(2.30 pm UK) It wouldn’t be Black Friday at SaleCycle without some product stats. We’ve seen a lift in sales of some key items that will get anyone ready for the winter holidays. Despite a spike of gown sales in May 2020, the Black Friday sales have delivered a yearly high.
Slippers have seen steady sales volumes all year, but the cold weather has seen uplift culminating in a Black Friday spike.
I’d suggest these trends are a combination of people preparing for more work from home scenarios and early Christmas present purchases.
(3.30 pm UK) As expected, Black Friday 2020 sale volumes in the UK have started to trend above 2019. This is a shift in buyer behaviour form 2019, where an early morning sales rush can be seen, curving off before lunchtime. This year the sales volumes have continued to grow after the morning rush. This is likely due to the increased number of shoppers working from home and having additional time to make purchases around their work.
(4 pm UK) Sales volume is up, as you can see from the previous graphs for Black Friday 2020. What impact is this having on the overall value of all transactions?
This metric can be heavily influenced by a number of factors including level of discount, items per transaction and ultimately product type purchased.
It’s clear that the increase in sales volume for Black Friday 2020 didn’t correlate with value after 12 pm. This suggests lower sales revenues being taken despite higher sale volumes. The lunchtime sale rush appears to have yielded lower priced items. Stocking filler shopping perhaps?
(4.30 pm UK) We’ve covered the state of the travel industry, which accounts for a large proportion of our household disposable income spend per year. So what is powering the increased sales and traffic numbers in 2020?
It’s looking like fashion is one of the main driving forces behind this additional traffic.
(7 pm UK) As we move into the evening of Black Friday in the UK it’s clear that the necessary movement of businesses to be more focused on e-commerce has yielded online growth in 2020.
The true impact on the future of the high street won’t be known for some time to come, but the innovations in tech and marketing is a shining example of how retailers have adapted. It’s been great to see new styles of data capture and up-sell across all industries. We’ll be sure to compile some of our favourite examples in our upcoming Look Book series coming soon.
(8 pm UK) Before signing off for the evening, we wanted to share some encouraging insights from the end of the day in the UK. Traffic uplift looked to be decreasing by 3 pm, but a sharp upturn was noticed at the 4 pm mark and has increased ever since. This suggests that the Black Friday shoppers are planning on purchasing into the evening. It is clear to see the growth curve of 2020 versus 2019, hopefully these incredible figures continue into the night.
Alongside this incredible traffic growth, we’ve tracked a comparative lift in basket abandonments. Companies facing this issue should ensure they have an appropriate retargeting strategy in place. SaleCycle are experts at recovering abandoned sales and improving conversion rate optimisation. If you’d like to find out more, request a demo and we’ll do the rest.
One of the most important metrics from Black Friday 2020 is the sales volume. It’s great to see that the increase in traffic has led to a similar increase in sales. The growth from 4 pm in the UK has continued on an upward trend until a slight level-off at 6 pm. We’ll be exploring the full impact of this into next week and benchmark Black Friday 2020. We’ll also be taking some time to examine what this means for the Chrismas sale period.
Thanks for taking the time to read our live updates, have a great weekend.