Black Friday Goes Global
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Here’s a quick fun fact before you read today’s newsletter
4.3%
Average conversion rate for online stores during Black Friday
(Source: Shopify)
Black Friday has grown from a US-specific shopping event into a global phenomenon, with digital sales surging globally.
With over 157 million shoppers participating globally in 2023, Black Friday has become a mainstay in retail calendars worldwide. The shift to online shopping saw a remarkable 16.5% increase in 2023, and early predictions for 2024 suggest an even bigger surge.
In the past, Black Friday traditionally marked the start of US holiday shopping, with stores opening early and crowds lining up for doorbusters. All that changed with the rise of e-commerce; proving that digital shopping events could rival traditional retail holidays. Other retailers followed suit, extending Black Friday into a weeks-long digital event.
Not to be left out, countries like Brazil, India, and the UK have embraced Black Friday with local twists. Brazil's Black Friday now rivals their traditional holiday sales, with 2023 revenue closing at over $1 billion.
Data from Adobe Analytics shows that mobile shopping accounts for over 55% of Black Friday purchases, proving that smartphones are the new shopping carts. With retailers optimising their apps for seamless checkout experiences, why brave the crowds?
Traditional retailers aren't sitting idle. Many are adopting hybrid approaches, offering "click and collect" services and exclusive in-store deals. But the challenge remains: in a digital-first world, can they maintain the excitement of traditional Black Friday shopping?
Meanwhile, e-commerce platforms are innovating with AI-powered recommendations, virtual try-ons, and live shopping events, ensuring that online remains the preferred choice for many shoppers.
As Black Friday goes global and digital, traditional retail must adapt or risk missing out on the year's biggest shopping event.
Now to a fun question for the readers:
Are you planning to shop this Black Friday?
If yes, will you shop online or in-store?