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Key E-commerce Metrics You Can’t Ignore for Black Friday 2023

By November 9, 2023No Comments

Black Friday 2023 is on the horizon, and the data suggests that it’s going to be the largest one for e-commerce to date. We’ve compiled a list of critical metrics that you need to keep an eye on. Without further ado, here they are.

75% of sales from mobile devices

In 2022, mobile sales represented 73% of total sales, up from 71% the previous year. Anticipate this upward trend to persist into 2023!

Source: Shopify

Desktop users convert better

But don’t disregard your desktop users, they tend to convert better! Desktop users boast a 5.6% conversion rate compared to 3.3% for mobile users.

Source: Statista

$104 in Average Order Value

According to Shopify, the AOV total for BFCM (Black Friday/Cyber Monday) in 2022 reached $102.10, a slight uptick from $100.70 in 2021. The AOV during Black Friday is projected to be around $104.

Source: Shopify

2000% ROI on SMS campaigns

If you’re not already planning an SMS campaign for Black Friday, it’s time to consider it. SMS campaigns have delivered an astounding 2000% return on investment (ROI) during previous Black Friday Cyber Monday (BFCM) events. In fact, you can expect to achieve a 7× higher order rate with SMS compared to email campaigns.

Source: Omnisend

14.8% conversion rate in email campaigns

When running your email campaigns, be sure to include “$ off” messages in your subject lines. These messages have achieved the highest conversion rate at 14.8%. Consider A/B testing to optimize your email strategy further.

Source: Data Axle

Free-shipping campaigns

49% of shoppers claim that free shipping is one of the biggest reasons for purchasing during Black Friday. Promoting this aspect in your marketing can drive more sales.

Source: National Retail Federation

9% CTR on a cart abandonment campaign

During Black Friday, cart abandonment rates typically see an uptick, driven by consumers loading up their carts with 40-50% more products throughout the BFCM period, resulting in a 7% rise in cart abandonment rates. To combat this, it’s essential to deploy a cart abandonment campaign. Sleeknote reports that such campaigns can yield promising results, with an expected 34% open rate and an impressive 9% click-through rate.

Source: Sleeknote

3-times more traffic

Your Google Analytics should be reporting 3-times higher traffic on BFCM compared to a typical October day. Make sure your website can handle the increased load.

Source: Queue it

15% cross-border transactions

While the majority of sales (85%) will come from the United States, don’t overlook the 15% coming from international markets like Canada and the UK. Tailor your marketing strategies accordingly to address both local and international customers.

Source: Shopify

A quarter of American shoppers are coming online

During Black Friday and Cyber Monday, one-fourth of American shoppers are turning to online platforms for their shopping needs, while the remaining 75% prefer the in-store experience. Those in the 25% online shopper segment are driven by the belief that they can uncover superior Black Friday deals in the digital realm, as opposed to brick-and-mortar stores.

Source: DriveResearch

Incorporate these metrics into your Black Friday strategy to boost your e-commerce success. And if you’re looking for a comprehensive platform to track and analyze all of these metrics in one place, consider PenPath—an all-in-one data analytics platform specializing in e-commerce and marketing data. PenPath can integrate data from over 50 sources, including Google Analytics, Meta Ads, Shopify, Magento, Klaviyo, YouTube, and many others to help you make data-driven decisions and maximize your Black Friday results.