Black Friday has become a global shopping extravaganza, with Cyber Monday extending the shopping fest into the online realm.
These shopping fests have transcended beyond conventional sectors like electronics and fashion to carve a niche within the travel industry as well. Airlines, hotel chains and theme parks have embraced these sales opportunities, unveiling substantial discounts to bump up bookings. This period has become a golden opportunity to ride the online shopping wave, catalyzing a surge in bookings and sales.
Navigating Black Friday’s evolution post-COVID
Black Friday took a big hit during the pandemic, with global lockdown leading to a sales and bookings nosedive. Furthermore, the emergence of new virus variants kept the recovery at bay and consumers were understandably cautious.
We looked into the pattern of bookings and sales during Black Friday, Cyber Monday, and Cyber Week from 2019 to 2022 for over 250 international brands. Our data explored the barriers as well as the opportunities that surfaced during this time.
Global sales spectrum
The analysis shows total sales during the specified periods on a global scale.
Black Friday Sales: From 2019 to 2022 we noticed a fluctuating trend. 2019 saw 1,349 sales with revenues of just over €1 million. However, 2020 saw sales plummet to 670, with revenues of just over €600,000. In 2021 sales increased slightly to 733 with €719,000 in revenue. 2022 marked a notable spike in sales to 937 sales with revenues reaching just over €900,000.
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It’s worth noting that despite the 31% dip in sales volume in 2022 compared with 2019, the average booking value in 2022 rose 19% over 2019, mirroring the widespread price augmentation post-pandemic.
Cyber Monday Sales: Echoing the Black Friday narrative, Cyber Monday sales took a nosedive in 2020 to 630 sales (€537,000) from 1,165 sales (€875,000) in 2019. In 2021, 608 sales were achieved bringing in €550,000 in revenue. However, 2022 saw sales bounce back to 876, with revenues reaching to €640,000, signaling a recovery.
Cyber Week Sales: Cyber Week suffered too. In 2019, 4,974 bookings were recorded, bringing in over €2.8 million in revenue, but sales plummeted to 2,301 in 2020, recording €1.6 million in revenue. 2021 saw little change with 2,269 bookings and €1.57 million in revenue. 2022 heralded a revival with 4,286 bookings, raking in €2.58 million in revenue. This confirmed the importance of Cyber Monday.
The data accentuates the potential of Black Friday, Cyber Monday and Cyber Week not just in terms of sales but also for gaining market share.
A strategic marketing campaign can unlock the opportunities these massive sales events present. So here are a few tips to help you get the most from this key sales period:
Craft compelling content, ensuring everything — from newsletters to landing pages — lands with a splash.
Understand your competitors and arm yourself with insights to offer more or better deals, ensuring the traveling market comes to you.
Offers they can’t ignore: Black Friday is synonymous with jaw-dropping deals. Yours must not just be me too—they must lead it. Go bold, go wild with your discounts, and make them so good they’re irresistible.
Precision targeting: Knowing who to target is half the battle. Elevate the stakes for your top-performing affiliates with even sweeter deals to drive their promotional efforts. Recognize their loyalty with special offers and create a bespoke landing page that caters exclusively to their audiences.
Coupon diversity: In the lead-up to Black Friday, savvy shoppers scour the internet for the best deals. Strike deals with coupon platforms to ensure your offers are front and center, boosting visibility and customer trust.
A dash of exclusivity: Discounts work wonders, but unique offerings can work even better. Think bundled deals or adding experiences to purchases that elevate the perceived value. Remember, Black Friday and Cyber Monday are prime opportunities for substantial earnings. Leverage affiliate marketing wisely, plan meticulously,
Post-Black Friday reflection: When it’s over, delve into data. Analyze the wealth of information harvested from the campaign to learn what worked and what didn’t. Black Friday provides a treasure trove of data that should inform your strategies for the next year, completing the cycle of planning, execution and review that ensures success now and in the future.