Mon Oct 02 2023
As the countdown to November 24th begins, more than 10 million eager Australians are gearing up for the forthcoming Black Friday sales. Black Friday is swiftly overtaking Boxing Day as the premier shopping event of the year.
Recent research from strategic insights consultants Nature reveals an estimated average spending of $440 per person during the sales frenzy.
These projections indicate a remarkable 14% surge from last year’s Black Friday figures, where Australians collectively splurged a record-breaking $7.1 billion, propelling November spending to unprecedented heights.
Beyond its reputation as a retail juggernaut, Black Friday and Cyber Monday have evolved into an instrumental event for Australians to jumpstart their Christmas shopping. Shoppers can anticipate an average discount of 22% during this time. This shift in consumer behaviour signals a remarkable departure from traditional shopping norms.
Nature surveyed 1,000 individuals across Australia in August, discovering the average Black Friday expenditures this year ($440). In stark contrast, the average budget set aside for Boxing Day sales in 2023 is considerably lower, at $380.
This remarkable shift in consumer preferences underscores the evolving significance of Black Friday in Australia’s retail landscape. It’s a testament to the strategic planning and marketing efforts employed by retailers and brands to transform Black Friday into a retail phenomenon rivalling Boxing Day.
The upcoming Black Friday in 2023 promises to be a game-changer, with anticipated spending levels poised to outshine Boxing Day by a remarkable 20%. This surge in spending is expected to be concentrated predominantly in three categories:
A striking 37% of individuals intend to seize the opportunity to get a head start on their Christmas shopping and beat the last-minute rush.
However, spontaneity plays a significant role as well. Surprisingly, 44% of shoppers make their purchase decisions on the very day of Black Friday itself.
The impending Black Friday event takes on a newfound significance in a retail climate characterised by subdued sales. Both online and brick-and-mortar retailers must not overlook this golden opportunity to bolster their bottom line.
Now that we’ve examined the projections and insights for Black Friday 2023, it’s time to discuss actionable Black Friday marketing strategies.
Don’t wait until November to launch your Black Friday campaigns. Begin planning and promoting your deals well in advance to capture the attention of early shoppers. Engage your audience through teasers, sneak peeks, and exclusive previews.
The online shopping experience must be swift and seamless. Ensure your eCommerce website is user-friendly, loads quickly, and is accessible on all devices. Consumers invest time in researching and purchasing online, and any hiccups can lead them to explore alternative options.
Digital marketing is a powerful tool for reaching your target audience. Useful Black Friday marketing includes email marketing (EDM), pay-per-click (PPC) and social media ads. Crafting compelling ad copy, using eye-catching visuals, and allocating your budget strategically can maximise your ROI.
Recognise the appeal of Black Friday to younger shoppers and leverage personalisation through channels like social media, and search marketing. Tailor your offerings to individual preferences for maximum impact.
Continuous monitoring of your campaigns is crucial. Analyse data, track key performance indicators (KPIs) and be prepared to adjust your strategy in real time based on customer behaviour.
In a period of considerable economic uncertainty, one certainty remains: Australians are gearing up to spend big on Black Friday. Retailers and brands must prepare diligently to harness the immense potential of this shopping phenomenon. To thrive during Black Friday 2023, retailers should consider implementing a comprehensive digital strategy and optimising their eCommerce website.
As a full-service digital agency, we understand the evolving landscape of consumer behaviour. We have the expertise to design and optimise your eCommerce website for maximum conversions this Black Friday. Our marketing team is also well-equipped to develop a strategic digital marketing plan to boost your brand’s visibility and reach.
Our expertise is your gateway to creating a successful Black Friday strategy that will set you apart from the competition. Contact Arcadian Digital today, and ensure that your brand stands out and thrives during this remarkable retail resurgence.
We’d love to hear about your digital requirements. Even if you don’t quite know what you need, get in touch as we can help formulate a whole digital strategy to meet your business objectives.