Shopify Releases 5 Major Insights about Black Friday & Cyber Monday 2020
We’re gearing up for Black Friday and Cyber Monday this year. Shopify recently released new insights on eCommerce trends. Here are our top 5 takeaways:
- Buying Local
- More than just a weekend — it’s a season.
- Expanding Marketplaces
- Generous Return Policies
- Investing in Customer Service
We go over each pro tip in detail, here:
- BUYING LOCAL.
Due to the COVID-19 pandemic, Black Friday and Cyber Monday are affected in a positive manner as consumers are turning to e-commerce platforms for purchasing their wants and needs. Online purchases have significantly increased in the past 3 months and this is predicted to scale even larger moving forward. Retail is not dead but digital shopping will have the upperhand this year as holiday shoppers are looking into their safety and convenience. The “Buy Local” movement is taking off this season as well, as this is a way consumers are trying to support their local communities. This movement also supports the mindset of consumers to try new brands and the most evident searches have been for the following niche products: art supplies, fashion, and meat delivery.
- MORE THAN JUST A WEEKEND – IT’S A SEASON.
Consumers are now shopping earlier this year due to the fear of stockout and knowledge on the supply chain disruption. It is mentioned that consumers are approaching this season with a portion of their shopping already done. For Black Friday and Cyber Monday, shoppers will be looking into deals and coupons that will justify their purchase compared to a regular day. It is forecasted as well that shoppers are becoming wise as there will be a decrease in impulse purchases due to the economic situation of many.
- EXPANDING MARKETPLACES.
Majority of Shopify Plus merchants are choosing to participate in Black Friday and Cyber Monday this year and even plan to extend their promotions up until a week after these events. Most of their deals will be focused towards their online sales but there will still be promotions for their retail stores as well. Merchants are also said to expand their e-commerce presence through online marketplaces such as Amazon and Google Shopping. Merchants are planning to highlight their event exclusive discounts but also their blanket discounts for all items.
- GENEROUS RETURN POLICIES.
Merchants are looking into implementing a more consumer-centered shopping experience through modifying their return policies due to the delay in shipping and logistics. Convenience is an important factor to shoppers, and retail outlets should look into providing more efficient pick-up and delivery options. Contrary to the economic situation of many, there is still a forecast for the possibility of panic buying during these events.
- INVESTING IN CUSTOMER SERVICE.
Communication and customer service is key to a successful Black Friday and Cyber Monday campaign. Since consumers are open to explore, the first impression of your brand is very crucial to the success of sales. Make sure to not only fill your consumers in on the deals you have but help them understand what your brand is all about to develop a better sense of connection with them which may lead to loyal supporters. Focusing on your customer experience and elevating this is what will set you apart from other competitors.