At Veeqo, we’ve been doing some research on how our software performed over the Black Friday 4-day weekend. Our insights discovered that online retailers receive up to THREE TIMES as many orders on Black Friday than any other day in November. We also found that the average order value retailers receive is 33% higher on Black Friday compared to any other day in November. This indicates that consumers end up with a bigger shopping cart than on a normal day in November. This is despite the high discount offered by retailers on Black Friday. On Cyber Monday, Veeqo’s insights showed that the total order price was 65% higher than the average day in November. However, the total value was only 50% when compared with Black Friday’s average order price. Cyber Monday is undoubtedly building momentum with online shoppers, but doesn’t have the same impact in comparison with Black Friday. In total, the four day weekend from November 25th - 28th 2016 accounted for 38% of retailers’ total November sales. These statistics confirm the underlying shift from bricks-and-mortar towards online retail. In fact, figures on Black Friday sales performance in 2015 revealed that online sales overtook in-store for the first time ever. How did your ecommerce business perform over the Black Friday weekend this year? We’d love to find out, so please leave a comment below to let us know!
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