Black Friday 2020 - a win or lose game?
As we all know, a successful hunt for the offer finished by a great purchase with a huge discount can bring as much happiness as winning the lottery. Probably, this is why such days as Singles Day, Black Friday or Cyber Monday are so popular for online shopping.
In 2020 those days brought additional thrill and emotions to all ecommerce entities. It was rather hard to predict if negative buyers’ mood and drop in sales will also reflect in online sales, which, from the other hand, should notice some growth. Based on first insights and reports we have made a short summary. What was typical consumer behaviour this year? Rather focused on savings or a shopping spree, like in previous years?
Globally, Black Friday and Cyber Monday 2020 can be disappointing for many online stores – buying trends show that customers were rather careful with their expenses. However, if we look closer on online transactions on local markets, like Europe and Poland we can notice slight increase. Consumers admit that current situation, risk of being infected by COVID-19, obligation to wear a mask, as well as comfort and better offers made them search for products in online stores.
And what about results on Linker platform? Even if the situation on the market was as mentioned above, we have registered almost 200% growth of transactions during Black Friday, weekend and Cyber Monday, comparing to 2019. We are happy that we can support our clients in developing their business, bringing right comfort and lack of errors in processing transactions fast, especially during demanding sales periods.
Quite an interesting day related to mass shopping online is also the so-called Singles Day, November 11. Especially in Asia, it is a bargain-hunting day, during which the volume of transactions is enormous. While our analysis show that the number of operations is increasing year on year also in our region, the volume of daily transactions is incomparably lower, for example in relation to the above-mentioned Black Friday and Cyber Monday.
Another hot period is ahead of us, with the promise of sales growth – the time of buying Christmas presents. Certainly, we will also see more interest in online shopping here. We will be happy to share our observations and analysis at the beginning of next year.
What were your experiences with Black Friday and Christmas sales in 2020? We are curious what are your observations, let’s discuss them!