With lockdown restrictions driving an increase in web traffic, retailers who optimised their eCommerce stores for Black Friday secured a 330% increase in average monthly revenue this year.
According to global eCommerce platform provider Kooomo, this highlights the direct correlation between providing a satisfying customer experience (CX) and increased conversion rates during the seasonal sales period.
Black Friday 2020 was predicted to be the biggest yet for online retail, due to the massive changes to consumer shopping habits created by the pandemic. IMRG recorded year-on-year performance results from the big day that revealed online sales growth was +38%, with the full Black Friday week (defined as the eight-day period from 23rd – 30th November) achieving growth of +30%.
In the past, seasonal promotions were announced on the final Friday in November but this has since been extended to Cyber Monday and is now accepted as a month-long sales period in which a huge amount of money is spent by consumers.
Gary Hammond, Head of Product at Kooomo discusses: “When the first lockdown was implemented, we witnessed a huge spike in online sales from consumers unable to visit the high-street. This year’s Black Friday happened to coincide with a second month-long lockdown and those retailers who had optimised their eCommerce sites in preparation for the event were able to achieve incredible success.”
Many retailers prioritised upgrading their eCommerce infrastructure in anticipation of Black Friday and those who were most successful were able to provide customers with the kind of experience they have come to expect in-store. This underlines the importance of ensuring a seamless end-to-end customer journey, from the moment someone engages with a brand across any touchpoint, either online or on the high-street.
Gary adds: “Our data reveals that merchants on the Kooomo platform, with a visually pleasing landing page that includes clear promotions and returns polices, secured a 330% increase in revenue and a 50% increase in conversion rates, based on a monthly average. Those who quickly adapted to new consumer shopping habits by providing relevant Black Friday content and a satisfying CX and were best positioned to capitalise on the increased demand.”
Gary concludes: “Looking to the future, retailers will need to think about how they can convert single purchase Black Friday shoppers into loyal customers by ensuring their items are delivered quickly and with no issues. Fortunately, it’s not too late to take advantage of the fantastic opportunity that eCommerce provides, as demand for online shopping will continue, not just over the festive season, but well into the new year and beyond.”