Even though we've been talking about peak season for what feels like months, we still can't believe Cyber Week has come and gone already!
Granify's Product Spotlights are shown on the apps and websites of some of the world's top retailers, and we wanted to share some of the key insights we observed during BFCM (and what these retail trends mean for shoppers—and online retailers—going forward.)
1. Black Friday still rules the roost.
Despite increased sales pushes for 'BFCM', 'The Cyber Five', and 'Cyber Week', the Friday after Thanksgiving is still when shoppers are most motivated to purchase. On Black Friday our partners saw not only the most sales but also the most items added to shopping carts, and the highest AOV (average order value.)
2. Shoppers are feeling
the urgency crunch.
Consumer demand is very obviously still present, but shoppers are being strategic to ensure their budgets are spent wisely. Urgency-related messages, such as those highlighting product popularity or limited inventories, saw increased efficacy compared to other times of the year, especially when combined with similar messages.
Related: 10 Ways to Know Your Customers Better
3. Cyber Monday shoppers are... intense.
While Black Friday is king, with steady traffic all day, Cyber Monday is heating up. In fact, our peak traffic was on Cyber Monday and at one point had us processing 2.39 Million match requests a minute and was a close second when it came to online sales!
4. Highlight relevant content early and often.
Guiding uncertain shoppers to pages with relevant content early in their journey is a great way to create a curated experience for deal-seekers. Our partners saw a conversion rate (CR) lift of 7.25% when we showed up early in a session.
Related: Types of Social Proof That Drive Customers to Buy
But how do we know?
A look into some of the numbers Granify crunched over BFCM:
- 160 Million sessions optimized–a 36% increase from Peak Season 2021.
- An average Conversion Rate Lift of 4.28% for our partners from Thanksgiving to Cyber Monday.
- $31 Million in additional revenue generated for our partners across the Cyber Five.