Cyber Week is the single most lucrative time of the year for eCommerce brands. The condensed shopping period, combined with widespread consumer demand for deals, generates a massive surge in sales that can account for a significant portion of annual revenue.
Cyber Week sales often generate up to 20-30% of a brand’s annual revenue. Black Friday and Cyber Monday alone can account for billions in online sales. For example, in 2022, Black Friday saw $9.12 billion in online spending, while Cyber Monday reached $11.3 billion, making it the biggest online shopping day of the year.
The revenue opportunity of Cyber Week allows brands to achieve significant short-term profits while laying the groundwork for ongoing success through customer acquisition and repeat purchases.
While the prospect of a vast number of sales is appealing, brands can potentially get much more out of Peak season. Peak allows you to win long-term brand growth and loyalty, acquire lifelong customers, collect valuable data on your customers, and so much more.
In this article, we look at the key reasons why Cyber Week and the holiday period are so important for eCommerce brands, regardless of industry or niche.
There’s a massive increase in customer demand and spending
There is a tangible shift in consumer behaviour throughout November and December. With Christmas on the horizon, buying gifts for friends and family is at the forefront of our minds.
You’re no longer solely trying to reach your target audience but also the brothers, sisters, girlfriends, boyfriends, mums, and dads of the customers who usually buy from you.
More consumers are more willing to spend their cash and proactively search for deals on the perfect gift. Looking for gifts usually takes us outside of our typical buying habits.
With more people willing to spend money on products they might not usually buy, Peak presents serious opportunities for brands looking to score big.
Big opportunities for brand exposure and new customer acquisition
With a higher percentage of consumers on the lookout for gifts, Cyber Week gives you a fantastic opportunity to expose your brand to new audiences and acquire new customers who have the potential to become lifelong purchasers.
Nearly 80% of shoppers intend to participate in Black Friday and Cyber Monday deals, making it one of the most significant retail events of the year. For brands, this translates into a surge in website visits, social media engagement, and email signups, which can be converted into long-term customer relationships with the right marketing strategy.
First-time buyers acquired during Cyber Week are valuable assets if nurtured correctly. Intelligent email campaigns and personalised offers can continue to be used long after the dust has settled for Peak.
It’s a chance to clear out old inventory
Cyber Week gives brands a golden opportunity to clear out some of that older inventory that hasn’t performed well, or you’re trying to shift to replace with new, exciting products.
Through Peak you can clear several hurdles with one leap by adding additional value to your customers while simultaneously clearing out some warehouse space.
The products you want to replace could be included in a deep discount, a freebie with a minimum spend, or a bundle. With more eyes on your digital channels, you have more chances to shift that dead stock.
These are all fantastic techniques for adding value to your customers and increasing average order value (AOV), and Peak is by far the most effective time to do them.
You can leverage data for future campaigns
Data is one of an eCommerce brand’s most important yet commonly overlooked assets. Increased traffic and sales create crucial data about your customers and audience, such as personal information, user behaviour on your website, engagement on your social channels, and so much more.
Here are just a few examples:
- Customer data provides invaluable insights into buying preferences, best-selling products, and customer demographics. It also gives you a direct route to selling to those customers in the future.
- Cookie data enables your marketers to better understand how people use your website, which can be used to improve both the customer experience and conversion rate of your website.
- Engagement data across paid and organic media can help your team identify the messages and content that resonate most with your audience.
Cyber Week is the best time to accumulate data that can serve your business in the coming months and years. Every pillar of your business uses data, whether procurement, marketing, operations, or finance, and your senior stakeholders can use the data to develop and refine your business strategy.
A time to build urgency and scarcity
Cyber Week creates the perfect environment for brands to leverage urgency and scarcity, two psychological triggers that drive action. Consumers know these deals are time-sensitive, which pushes them to act quickly rather than wait and risk missing out.
Cyber Week thrives on countdowns and flash sales. When customers know that a deal will expire soon, it spurs them to complete their purchase instead of abandoning their cart. Using timers or banners indicating how much time is left on a deal can significantly boost conversions.
Furthermore, Cyber Week gives you the chance to implement a scarcity mindset. Low stock warnings and limited-quantity offers tap into a customer’s fear of missing out. Displaying messages like “only five left” or “while supplies last” creates a sense of urgency that encourages quicker decision-making.
Customers are more likely to buy products they didn’t even know they wanted because they don’t want to regret not taking advantage of a great deal.
The perfect time to expand your market reach
While Cyber Week was traditionally a U.S phenomenon, it’s transcended worldwide. Consumers across the globe are switched on to deals from their favourite eCommerce brands.
This creates a wealth of opportunity for brands who are interested in expanding their market reach. Working with a 3PL to deliver localised fulfilment has made cross-border eCommerce easier than ever, enabling brands to meet customers where they are with local shipping rates and shorter delivery times.
Whether you already have an overseas customer base or have plans to expand internationally in the near future, Cyber Week is the perfect time to widen your market reach.
Whatever your eCom goals, we’ll help you get there
At J&J Global Fulfilment, we take the time-consuming and often complex fulfilment process off your hands so you can get on with growing your business.
With a global network of fulfilment centres and a custom-built order management platform, we’re well-positioned to help you scale smoothly whilst giving your customers the best online shopping experience.
To learn more about our services, please don’t hesitate to contact us.
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