Black Friday 2024: Key Insights and Strategies

The term Black Friday has officially moved well beyond a single day. It has become Black Week, even Black Month. Retailers are challenged to find the ideal balance between offers and profit margins, remaining competitive without undermining their margins. What proved to work best is starting approximately one week before the official Friday and extending at least until Cyber Monday, creating a more comprehensive experience for consumers.

Full Funnel Beats Performance-Only

Retailers who followed a Full Funnel strategy - with budget allocated to Awareness, Lead Generation / Website Visits, and then Performance - saw approximately 30% better results compared to those who focused solely on Performance First strategies. Additionally, actions like “Make your wishlist” or “Leave us your email to be the first to know” keep audience interest high and continue to deliver results.

Smarter Consumers, Sharper Pricing

Consumers appear to be increasingly educated based on the new price display format (lowest price in 30 days) and are stricter when they don’t see meaningful reductions. Commercial policy remains critical - large discounts (over 50%) on specific product codes tend to perform better than general site-wide discounts. Premium brands, as often happens in fashion, see good results with smaller general discounts, even around 25%. Finally, price reductions prove more effective than coupons for product promotion.