According to performance marketing solutions firm, Wunderkind, m-commerce is poised to be the key driver of Black Friday sales in the UK this year. Despite the ongoing cost-of-living crisis, UK shoppers are projected to spend an astonishing £3 billion on Black Friday deals. Wunderkind emphasizes the importance of margin protection and mobile engagement in order to ensure successful Cyber Week campaigns. In fact, the firm predicts that mobile commerce will play an even more significant role this year compared to last year, with mobile channels being instrumental in driving conversions during Black Friday.
Wunderkind’s Marketing Pulse analysis, which examined over 52 million shopper journeys leading up to Black Friday 2022, revealed a 2.3% year-on-year increase in online revenues related to the event as consumers took advantage of the deals. Additionally, the firm’s “2023 Black Friday and Beyond” report, based on original data from its global customer base, found that Cyber Week alone generated between 6-9% of annual revenue for brands and retailers last year. This underscores the substantial revenue opportunity that the discounting event presents.
The data also highlighted that Average Order Values during Cyber Week in 2022 reached £117. Given the price sensitivity of the UK consumer base, there is an expectation that demand from shoppers during Black Friday and Cyber Monday will continue to remain high this year. However, retailers are grappling with rising costs, making it crucial for them to base their discounting strategies on customer data to safeguard their margins. Jon Halley, Regional VP at Wunderkind, emphasizes the importance of this approach.
Furthermore, mobile commerce is expected to play a pivotal role in this year’s Black Friday. Over the past three years, mobile conversions have consistently surpassed desktop conversions. In 2021, mobile commerce surpassed desktop for the first time, accounting for 49% of conversions compared to 48% for desktop sales. Last year, mobile’s lead widened further, with 53% of conversions coming from mobile compared to 45% from desktop. This trend is expected to continue during the 2023 Golden Quarter.
Given this trend, Wunderkind underscores the need for retailers to prioritize mobile commerce during Black Friday and Cyber Monday as more and more customers choose to shop on their phones. Mobile-first marketing channels, including text messaging, have become increasingly crucial in providing customers with a seamless shopping experience on their devices, which ultimately leads to faster conversions.
In conclusion, Wunderkind predicts that m-commerce will be the driving force behind Black Friday sales in the UK this year, with shoppers expected to spend £3 billion on deals. Retailers must prioritize margin protection and mobile engagement to ensure successful Cyber Week campaigns. Given the consistent outperformance of mobile conversions over desktop conversions in recent years, retailers cannot afford to overlook this channel. By leveraging mobile-first marketing channels and leveraging customer data, retailers can create a seamless shopping experience and maximize conversions during the 2023 Golden Quarter.
Useful Links:
1. Wunderkind’s “2023 Black Friday and Beyond” Report
2. Wunderkind’s Marketing Pulse Analysis
