Black Friday sales globally broke records in comparison to 2021, shoppers in India increased their orders by 65 percent and their spending by 64 percent during the sale week compared to the usual period.
According to Admitad, a performance marketing-focused IT solution provider, the three categories with the highest sales were apparel, home goods, and electronics. However, sales of electronics declined significantly this year.
Golden week increases sales not just on Friday
Experts in the field claim that orders have, on average, increased from 2 to 15 percent from the previous year, compared to 2021 or 2020, this increase is more moderate. However, the fact that growth is occurring in the current economic climate and amid rising inflation is unquestionably a good sign for business, users will still make purchases if they are interested and give a good deal. A 23 percent increase in click-throughs to brands' websites and marketplaces during the sale week serves as proof of this.
Every year, we observe that consumer activity is dispersed more evenly throughout the sale period and is less focused on Friday. As Admitad predicted, a lot of companies extended the sale period to include the days leading up to and following Black Friday. As a result, the difference in shoppers' activity on Friday and other sale days became less drastic compared to previous years. This indicates that some of the "additional" orders were dispersed over different days.
The main sale day was when customers were most likely to make their largest purchases. This can be attributed to psychological factors as well as the fact that on Friday, brands and marketplaces themselves offered the largest discounts on expensive goods in an effort to fully engage their target audiences during marketing campaigns.
Frequently used categories: a change in leaders
Marketplaces took the lead globally, accounting for, more than 60 percent of all sales. However, users on both online marketplaces and individual brand stores engaged in very similar shopping behaviors and shared product interests.
This year, items from the fashion and home goods categories overtook electronics, which had previously held the top spot on the leaderboard. Furniture and household goods took a huge leap forward and shot to the top of the list.
Indian customers followed global trends in terms of increased interest in fashion and home goods, but spent much more on online games and much less on electronics and tickets compared to global purchase activity.
Content websites and cashback services lured the majority of customers
Content's influence on customers' motivation is still growing. Admitad estimates that this year, content websites and online media attracted more than 23 percent of all global sales. Users who used offers from cashback services placed an additional 20.3 percent of orders. 14.4 percent of Black Friday purchases were made by visitors to affiliate websites, and more than 9 percent - by coupon users. Brands received an additional 8.6 percent of sales from contextual advertising and 8.2 percent from social media.
Cashback services played an even more important role for local Indian shoppers, accounting for almost 30 percent of all purchases in the country. Mobile apps and social networks also had higher buying activity.
Brands were not the only ones to capitalize on the period of high demand. The profits of affiliate partners, who attracted sales for rewards from brands, jumped 51.4 percent globally on Black Friday.
However, with Christmas and New Year's sales still to come, the struggle for customers' attention is far from over. In order to use the most efficient traffic channels, mechanics, and content types, it is crucial for them to analyze both their experience and the sales of their competitors.