Black Friday and Cyber Monday Post-Mortem 2014: lessons for retailers in 2015
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The document recaps Black Friday and Cyber Monday retail sales in 2014. It shows that retail sales have strongly recovered since the 2008 financial crisis. Black Friday sales were up 52.8% and transactions up 26.8%, while Cyber Monday sales increased 37.1% and transactions 13.3%. However, retailers need to promote beyond just these two days, as customers are shopping earlier in the season on mobile devices more than desktop.
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Black Friday and Cyber Monday Post-Mortem 2014: lessons for retailers in 2015
- 1. Black Friday & Cyber Monday 2014 Event Recap and Lessons for 2015 Dec 4, 2014
- 2. “If you don’t know where you are going, you might end up someplace else” – Yogi Berra
- 3. Retail sales have seen a strong recovery since the 2008 financial crisis $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ($ Million) US Retail Sales (non-seasonally adjusted) $6,000,000,000 $5,000,000,000 $4,000,000,000 $3,000,000,000 $2,000,000,000 $1,000,000,000 $- 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Canadian Retail Sales (non-seasonally adjusted) Source: census.gov http://www.census.gov/retail/marts/www/timeseries.html Source: Statistics Canada http://www5.statcan.gc.ca/ Table 080-0020
- 4. Converging spending between November and December in Canada Source: census.gov http://www.census.gov/retail/marts/www/timeseries.html Source: Statistics Canada http://www5.statcan.gc.ca/ Table 080-0020
- 5. On one hand…
- 6. But on the other…
- 8. BLACK FRIDAY SALES +52.8%* TXNS +26.8%* CYBER MONDAY SALES +37.1%* TXNS +13.3%*
- 9. A retailer who only promoted on Black Friday and Cyber Monday Monday Tuesday Wednesday Thursday Black Friday Saturday Sunday Cyber Monday
- 10. A positive example of early promotion Monday Tuesday Wednesday Thursday Black Friday Saturday Sunday Cyber Monday
- 11. A less positive example of early promotion Monday Tuesday Wednesday Thursday Black Friday Saturday Sunday Cyber Monday
- 12. Overall, Demac merchants had a great period Monday Tuesday Wednesday Thursday Black Friday Saturday Sunday Cyber Monday
- 13. MOBILE TRAFFIC +42.4% TABLET +30.7% DESKTOP +8.1% RESPONSIVE IS KEY
- 14. Consumers have continued their shift to mobile 2013 Traffic by Technology desktop Mobile tablet
- 15. QUESTIONS?
Editor's Notes
- Historical business review
- Notes: 2008 far worse for US than Canada (-2% canada, -8% USA 2008-2009)
- USA consistent gap between Nov/Dec retail sales, Canada is more volatile. Data suggests retailers are shifting
- “About 1,900 fewer people visited Toronto’s largest mall (Eaton’s Centre) this Black Friday than last black Friday” Meredith Vlitas, SR. Marketing Director Eatons Centre. http://www.thestar.com/business/economy/2014/12/01/online_shopping_detracts_from_black_friday_sales.html
- “About 1,900 fewer people visited Toronto’s largest mall (Eaton’s Centre) this Black Friday than last black Friday” Meredith Vlitas, SR. Marketing Director Eatons Centre. http://www.thestar.com/business/economy/2014/12/01/online_shopping_detracts_from_black_friday_sales.html
- * YoY Nov 28 2014 vs Nov 29 2013. This is an aggregate number across a representative cross section of our merchants Implicit in these stats are the fact that Basket sizes are also up YoY
- Another clothing manufacturer adopted a similar strategy, releasing their offer on the Monday. Monday-Sunday. Relative to LY, this merchant had a richer offer Mon-Sun (black Friday offer all week), and in an attempt to salvage their holiday season, had a richer offer on Monday, which made up for the poor week prior. Overall this merchant closed the period + ~2.5%, although at the expense of margins.
- One of our successful clothing merchants released their black Friday promotion on Tuesday, but made it an exclusive event which required email signup. A combination of strong brand and an offer that resonated with customers translated to strong sales performance for the week. They closed the Mon-Mon period up ~90% YoY. Tuesday saw 1,XXX% increase YoY
- Another clothing manufacturer adopted a similar strategy, releasing their offer on the Monday. Monday-Sunday. Relative to LY, this merchant had a richer offer Mon-Sun (black Friday offer all week), and in an attempt to salvage their holiday season, had a richer offer on Monday, which made up for the poor week prior. Overall this merchant closed the period + ~2.5%, although at the expense of margins.
- Very positive results for our merchant this holiday season. Despite earlier starts for many of our merchants, in aggregate we did not see strong sales pull forward. The period beat expectations.
- * YoY Nov 28 2014 vs Nov 29 2013. This is an aggregate number across a representative cross section of our merchants Implicit in these stats are the fact that Basket sizes are also up YoY
- 1. Retailers are starting their promotions earlier than ever Shawn DuBravac, the electronics industry group’s chief economist, also said deals earlier on had eaten into sales over the holiday weekend. He said that the deeper discounting could have translated into lower sales over all. http://www.nytimes.com/2014/12/01/business/thanksgiving-weekend-sales-at-stores-and-online-slide-11-percent.html?_r=0 2. Bestbuy had their servers crash due to traffic on Black Friday