Jens Plath’s Post

🚀 Black Friday 2024 proved one thing – adapt or be left behind! 💻 E-commerce and AI-driven tools were the major winners. Online sales soared with numbers hitting a high of $11.3 million per minute at peak hours. Advancements in AI and chatbots drove over $14 billion in global online sales. Interesting right? 📈 The major retailers – Victoria's Secret, Walmart, and Hollister – were not left out of the fun either. However, these rewards came to those who were more proactive in their marketing strategies. Sadly, not all nautical boats rose with the tide. Traditional in-store shopping took a significant hit 📉. The numbers don't lie: store traffic on Black Friday was down 3.2% overall! The usual doorbuster strategies and in-store gimmicks also lost their charm. 🔖 Deep discounts were prominent, possibly due to retailers' attempt to clear inventory before potential tariffs hit. The line between offline and online shopping is becoming blurred as retailers make more products available online. 🗓️ Another fascinating observation was the extension of the Black Friday sales period. Instead of a single-day sale, it felt more like a continuous event. What's the takeaway here? The marketplace is evolving at a faster rate each year – change is the only constant. Whether small business or industry giant, we need to stay keyed into these trends to remain competitive. 💼 Keen to dive deeper into marketing and growth strategies that work? Pop 'comment' with the phrase 'freedom journal' below ⬇️ For more resources and information, head to 🌐 https://lnkd.in/gRp8yPQQ. Allow your business to benefit from the future, today! 💡💪

$10.8 Billion spent online during Black Friday 2024: What does this mean? Black Friday 2024 was a game-changer with online sales hitting a whopping $10.8 billion – that's 10% more than last year! 📈 🤯 What does this mean? - Consumer behavior is increasingly becoming digital. Among many reasons why this shift is happening... Digital shopping tools are becoming more effective. People love using their phones and mobile wallets. (they made up 69% of all Black Friday purchases worldwide) Buy now pay later options and AI chatbots acting as shopping helpers also made online shopping way easier. Digital tools are changing the landscape of BFCM! Adding our name to the pot of digital tools making a huge BFCM impact... Disco delivered over $6.7M in revenue for the amazing brands in our network during November! Our curated, post purchase ad network is not only delighting customers with new brands they love, but driving massive customer acquisition and revenue to our brands! Win. Win. Win. It takes a village of tools and brands to meet consumer demand... but there's no doubt that this demand is increasingly digital. And Black Friday 2024 is further proof.

🎯 Black Friday and the Psychology of Customers: Did You Know? 🛍️ Black Friday isn’t just about deals and discounts—it’s also a fascinating insight into customer behavior! Here are some eye-opening facts about how shoppers approach this massive sales event. Let’s dive in: 1️⃣ Customers plan ahead... a lot! 🗓️ Over 50% of shoppers start researching Black Friday deals weeks in advance. They bookmark products, create wish lists, and even compare prices across platforms. It’s not impulse shopping—it’s strategic savings! 🛒💡 2️⃣ Fear of missing out (FOMO) drives purchases 😱 The ticking countdown clocks, "limited stock" alerts, and once-a-year deals? All designed to trigger FOMO! Customers feel the pressure to act quickly, with 77% admitting they’ve made a purchase they didn’t plan—just to avoid missing out. ⏰💳 3️⃣ Mobile-first shoppers dominate 📱 In 2022, 43% of Black Friday sales came from mobile devices. Customers want the freedom to shop from anywhere—be it their couch or while waiting in line for coffee. Mobile-friendly websites and smooth checkout experiences are key! ☕📲 4️⃣ Free shipping seals the deal 🚚 Shoppers love discounts, but free shipping? That’s the ultimate cherry on top! Studies show 9 out of 10 customers prioritize retailers that offer free shipping during Black Friday over those that don’t—even if the product prices are slightly higher. 🎯🎁 5️⃣ Customers love reviews (even during Black Friday) ⭐ Even in the rush of the sales, 79% of shoppers rely on product reviews before hitting "buy." Trust is everything—especially during the holiday season! Building social proof can significantly boost your conversion rates. 📊👌 📢 Takeaway: Black Friday customers are informed, strategic, and ready to spend—but only if brands create an experience that feels seamless, trustworthy, and FOMO-inducing. Are you prepared to meet their expectations?

📣 Black Friday Tips & Tricks ahead! 🛒 I’ll be sharing a couple of weekly tips to help you prepare for Black Friday, with focus on payments. These insights aren't just for our existing merchants but are also for those interested in learning more about online payments. This week: User experience & checkout conversion How can you enhance your checkout/payment wall to boost conversions? 🚀 1. Localise your checkout 🌍 - Ensure your checkout is translated and offers the most relevant payment methods. - Payment preferences vary across markets/country, products and services so understanding your audience is key. - For instance, in regions where users prefer bank payments, make sure that option is high up in the checkout. - Consider A/B testing to determine which methods work best for your customers, this can differ significantly by market, country, products, services and vertical. 2. Leverage Trustly’s Azura capabilities ⚙   - Since our launch of Trustly Azura Data Engine we've onboarded millions of users across Europe that can be recognised instantly within the checkout.   Tip! Here's how you can stand out in the crowd, did you know that we've also launched a Service Presentation API? - It allows end-user to see their previously used bank accounts across merchants and verticals already in the payment wall/checkout (see picture). - If it's a match - we present the last used bank account. - If no match - we present the bank logos for that market. - Reducing the number of steps by almost 50% and increasing conversion rates up to 98%. With just 1 single API integration. 📞 If you haven’t already, connect with your Trustly Account Manager to explore consumer payment preferences across Europe and how this new API can simplify your customers’ checkout experience and boost conversions before Black Friday or give me a comment below. Next week: Returns & Refunds 🔄 - Refunds are crucial in e-commerce, affecting both user experience, satisfaction and loyalty 😀 and can dramatically have a positive impact on your operations and cost. Stay tuned, and let me know in the comments if there are other topics you’d like us to explore.

The term 'Black Friday' was coined as a result of the crash of the U.S. gold market in 1869 and has slowly made it's way to the UK Retail industry! Traditionally, Black Friday has been a huge event for retailers, driving significant sales both online and in-store. But in 2024, the landscape feels quite different, shaped by the ongoing cost-of-living crisis, stubborn inflation, and the impact of recent budget announcements. Cautious Consuming: With household budgets stretched by rising costs, many shoppers are prioritising essentials over discretionary purchases. While deals will be tempting, consumers are expected to spend more selectively, focusing on practical and high-value items. Retailer Strategies: Retailers are likely to respond to cautious spending by increasing promotions on staple products and offering payment flexibility (e.g., buy now, pay later options). At the same time, we may see a scaling back of discounts as businesses experience higher operating costs. Impact of Budget Announcements: The recent UK budget is unlikely to significantly boost disposable income for consumers in the short term. This could dampen the impulse-buying that typically defines Black Friday. The Digital Shift Continues: Online shopping will undoubtedly dominate again, but we might see a small resurgence in in-store shopping as people seek the experience of browsing and bagging deals in person. Retailers are increasingly blending in-store events with their Black Friday campaigns to entice foot traffic. This year could see a "value-driven" Black Friday. Consumers may spend less overall but will be looking for smarter ways to make their money go further. 💸 How do you think Black Friday 2024 will unfold? Will we see a shift in priorities, or will the "shopping fever" persist despite economic challenges? 💸

🎯 Black Friday: Unexpected Trends! For the first time since 2016, we’ve seen a decline in iDEAL transactions on Black Friday itself. However, Black Friday Week continues to grow significantly, with consumers spreading their purchases more evenly across the week. 💳📈 Discover all the key insights and figures on our update page: https://lnkd.in/eaPyshDa #BlackFriday #Ecommerce #OnlinePayments

Black Friday & Sales boom :- Black Friday, the day after Thanksgiving in the United States, marks the start of the holiday shopping season and is known for massive sales and retail booms. Here's a breakdown of its impact and trends: Key Insights: Sales Surge: Retailers experience one of the highest revenue days of the year, both in-store and online. In 2023, Black Friday online sales hit a record $9.8 billion in the U.S. Global Reach: While originating in the U.S., Black Friday has expanded globally. Countries like the UK, Canada, and even emerging markets participate, driving a significant increase in global sales. Consumer Behavior: Impulse Buying: Deep discounts encourage bulk purchases and impulse buys. Early Holiday Shopping: Many consumers start their holiday shopping to capitalize on deals. Shift to Online: E-commerce has grown significantly, with Cyber Monday also playing a major role. Retail Strategies: Loss Leaders: Retailers offer steep discounts on select products to attract customers and boost overall sales. Extended Sales Period: Many stores extend Black Friday promotions to a full week ("Black Friday Week") or even the entire month ("Black November"). Financial Impact: Boost to the Economy: The sales boom provides a substantial economic boost, especially for the retail and e-commerce sectors. Stock Performance: Retail stocks often experience volatility around Black Friday and the holiday season, with positive sales data potentially driving stock prices up. Trends to Watch: Sustainability Concerns: Growing awareness of consumerism's environmental impact has led to initiatives like "Green Friday." Buy Now, Pay Later (BNPL): Increased use of BNPL services helps boost sales but may contribute to consumer debt.

Prime Day and Black Friday trigger returns in huge volumes as consumers tempted to get that big deal have buyer's remorse or purchase before fully researching an item. To effectively manage this influx, implementing a streamlined Returns Processing Platform is essential and cost-effective. This proactive approach can help businesses stay ahead of the return wave. For more insights and solutions, visit ReturnsDesk.com! #reverselogistics #retailreturns #primeday #blackfriday https://lnkd.in/gm3BSMK8

Black Friday 2024 smashed records in the UK, with online spending soaring to £1.12 billion—a 7.2% jump from last year. But it’s not just about the numbers; it’s about what they reveal about the future of retail. 👇 Here’s what stood out: - Convenience is Key: Click and Collect usage jumped 21.3%, showing shoppers’ preference for hybrid options. - Tech-Savvy Shoppers: Referrals from generative AI tools surged 239%, as consumers rely on AI to shop smarter. 💡 The takeaway? Shoppers are more strategic, informed, and value-driven. For brands, it’s a clear signal to rethink how they engage and deliver value. At FAM, we’re helping brands move beyond discounts to build loyalty and foster deeper connections. Today, it’s not just about selling—it’s about meeting customers where they are. Metrics we’re tracking post-BFCM: ⏰ Time-to-Repurchase 🎄 Repeats During Christmas 💛 New Customer Retention Rate

Winners and losers of Black Friday 2024. U.S. retail sales (excluding auto sales) were up 3.4% compared to Black Friday last year. Salesforce found that on Friday online sales in the U.S. rose 7% year over year to $17.5 billion, while Adobe found that they rose 10.2% to $10.8 billion. Between 10 a.m. and 2 p.m., $11.3 million was spent online every minute, per Adobe.  AI and AI agents drove more than $14 billion in global online sales on Black Friday, and retailers employing generative artificial intelligence had a 9% higher conversion rate than those that didn’t, according to Salesforce. #blackfriday #salesincrease #AI