The Stats You Need to Know Before Black Friday
With only one Friday left, Black Friday and Cyber Monday will be here before we know it! Now is the time to gear up your advertising efforts, as 35% of consumers plan to spend on Black Friday and 30% plan to shop on Cyber Monday.
The dollars are at stake for advertisers and brands have been growing continuously over the years. Last year, Americans spent $3.34 billion on Black Friday, with an average of $300 spent throughout Thanksgiving weekend, and shoppers in the UK spent £2.9 billion.
It’s no secret that mobile is becoming an increasingly important area of focus for brands when trying to reach potential spenders. This trend holds especially true during the holidays. Last year, Americans set a new record by spending $1.2 billion via mobile on Black Friday. This year, it’s estimated that 63.5% of Americans plan to shop digitally on Cyber Monday to take advantage of online-only deals from major retailers leading the game, like Amazon and Target. In general, over 75% of Americans plan to use their mobile devices for shopping at some point during the Holiday season.
In the UK, Black Friday spend is rising. With 31% of consumers plan to spend in November, 19.4% in the first half of December and 3.8% in the second half. Most consumers will be very present on mobile, with 62% scouting products on mobile and 56% monitoring deals, mobile ad spend is increasingly important during the holiday season.
What does this mean for advertisers?
- Now is the time to invest ad spend on mobile, as most consumers are spending their time on mobile researching and monitoring products.
- Prepare websites for increased visitation as websites can experience 5x higher web traffic on Black Friday.