The 2022 Black Friday Cyber Monday (BFCM) season came early this year. With businesses struggling to keep up with economic uncertainty, labor shortages, and an ongoing supply chain crisis - many businesses opted to begin discounts and promotions earlier to capitalize on their holiday sales period.
For many businesses, the BFCM sales period can be a make or break moment for annual sales. US Retailers saw $62 billion in online sales alone during 2021’s BFCM window, accounting for over 22% of online sales for the entire holiday season. When done right, capturing consumers during the holiday shopping season can result in record breaking sales, and long time, loyal customers for your business.
We’ve rounded up 5 common Black Friday Cyber Monday Promotion types below:
Sitewide Sales - One of the most popular promotion offers for BFCM sales. Sitewide discounts make it easy for customers to understand their savings, and shop across a wide range of products. Reminder: customers will expect more than 15% sitewide, so the key to success with sitewide sales is to make the percentage stand out. If 15% is the biggest discount your business can offer sitewide, consider trying another promotion type.
Buy More Save More - Buy more save more promotions are a good option for businesses looking to improve their AOV by offering discounts to customers that spend over a certain threshold. Consumers looking to score a higher deal will be incentivized to spend more on their purchase, making their total savings higher.
Sale on Sale - Sitewide sale not an option? You may want to opt to push an additional discount on sale items, offering an additional 30-50% discount on previously marked down items.
Gift With Purchase - Offering free gifts is another way to capture consumers this holiday season. Consider pairing limited edition holiday gifts or products with purchases over the BFCM sale period.
Donations - If your business is unable or unwilling to offer monetary discounts on products, you may want to consider a donation based promotion. Businesses can donate all or a percentage of sales to a charity or cause that aligns with their ethos and mission. This promotion strategy can be a good option for a luxury brand that does not offer discounts on their items, or a brand that is striving to improve customer and brand loyalty.
There is no right or wrong way to win the BFCM shopping season. Businesses must determine on an individual basis what best offer works for their business, how to win their consumers, and how to stand out from the competition. Brands should leverage past promotional data to make informed decisions and should not be afraid to get creative. Promotions can be combined and stacked to make more appealing.
EX: PIVOT client, Girlfriend Collective launched 35% off sitewide plus a gift with purchase promotion: with every piece sold during the holidays, Girlfriend Collective will donate an item of equal or greater value to an organization in need.
Once you have decided on a promotion, ensure that your messaging is clear across all marketing channels, your offer is easy to understand and implement, and your site is prepared for increased holiday traffic, questions and customer needs. Check out our blog post to make sure your Shopify store is prepared for the BFCM holiday season.