BFCM 2024: What We Saw and What We Learned
Key Insights for Small Businesses
The 2024 Black Friday and Cyber Monday (BFCM) shopping season proved to be another pivotal moment in the retail calendar. With shifting consumer behavior, evolving technologies, and innovative strategies, it’s time to look at what worked, what didn’t, and what we can learn for 2025. Below, we dive into five key takeaways. Take a look and see what findings you may want to implement into your business strategy in 2025.
The Era of Early Deals and Extended Sales
This year saw the continuation of early holiday shopping trends, with sales launching as early as late October. Retailers that embraced "Pre-Black Friday" and "Cyber Week" campaigns succeeded in maintaining consumer engagement across a longer sales window, boosting overall revenue. However, the crowded early market posed challenges for smaller brands struggling to stand out.
Small Business Takeaway: Start planning your holiday campaigns by late summer. Use teasers and countdowns to build excitement and ensure your promotions offer clear value to customers. Lean into storytelling to differentiate yourself in a competitive landscape.
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Success of AI-Driven Personalization
We live in the era of AI and businesses are continuing to utilize this emerging technology to improve customer journeys and online user experiences. For BFCM, AI tools played a critical role in boosting cart conversions and customer retention, offering personalized product recommendations and enhanced real-time support through chatbots. Retailers using AI noted increased engagement and higher repeat visits.
Small Business Takeaway: Implement affordable AI-driven tools like ChatGPT plugins for customer service or Klaviyo for personalized email marketing. Leverage analytics to recommend relevant products and offers to customers.
Buy Now, Pay Later (BNPL) Solidifies Its Role
BNPL platforms like Klarna and Affirm continued to drive holiday spending, particularly for high-ticket items. Offering flexible payment options encouraged budget-conscious shoppers to complete their purchases.
Small Business Takeaway: If your product has a higher price point, consider partnering with BNPL providers to make large purchases more accessible. Highlight these options in your marketing materials and at checkout to attract price-sensitive buyers.
The Mobile Shopping Boom
Mobile commerce reached new heights this season, with app-exclusive deals and targeted push notifications driving engagement. Retailers with optimized mobile sites or apps captured the lion’s share of online traffic.
Small Business Takeaway: Ensure your website is mobile-responsive and fast-loading. Offer mobile-exclusive deals to drive app downloads or encourage shopping through mobile browsers. Free tools like Google’s Mobile-Friendly Test can help audit your site.
Lessons from Logistical Challenges
Many retailers faced order fulfillment delays, leading to frustrated customers. Those that transparently communicated shipping timelines or provided alternative options like in-store pickup retained customer trust.
Small Business Takeaway: Be proactive about communicating delays or fulfillment issues. Offer in-store pickup or local delivery options to reduce reliance on overburdened shipping carriers. Partner with tools like EasyPost to streamline shipping logistics.
Conclusion
BFCM 2024 offered small businesses valuable lessons: starting campaigns early, embracing personalization and flexible payment options, optimizing for mobile, and tackling logistics head-on. By incorporating these strategies and staying adaptable, small businesses can turn seasonal challenges into opportunities for growth in 2025.
