Retail

Top 10 Black Friday 2024 Trends You Can’t Afford to Miss

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Every retailer’s favorite holiday - Black Friday - is fast approaching. Are you ready for another wild ride?

This year sees a continuation of consumer trends that have evolved the past years, and we’ve got you covered on how to join in.

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1. Long Shopping Period is the New Normal

Consumers are still beginning their holiday shopping early, with many already hunting for deals in October.

Source: FoxEcom Croud

What to do: Start your warm-up mid-October. This is the time to get your holiday pages ready, update those gift guides and make holiday specials and limited edition products front-and-center.

In other words: make it easy for your customers to get inspired and make early decisions. This is also the perfect opportunity to shift left over stock with flash sales for those early bird deal hunters.

2. Social Commerce Dominates

Social media is becoming a primary driver of sales, with platforms like TikTok, Instagram, and YouTube serving as major discovery channels. Especially Gen Z and Millenials source products on socials, using the platforms for inspiration as well as search engines.

What to do: Make sure your content is completely optimized for search, using relevant hashtags and wordings. Make your popular content shoppable on your website and enable shopping-functionality across platforms to never miss a sale. Heavily feature holiday related content such as gift guides, holiday themed tutorials and limited edition products.

Source: FoxEcom

3. Influencer Power

Micro and nano-influencers, with their highly engaged audiences, are expected to be key players in driving sales this Black Friday.

What to do: Collaborate with influencers to offer exclusive discount codes. Smaller influencers (under 5,000 followers) tend to have higher ROI, so make sure to work with a range of niche influencers of different sizes to reach diverse audiences. Encourage influencers to do product reviews and how to’s, creating a more authentic and direct connection between their followers and your products​.

Source: Awin

4. Health & Beauty Surge

With a growing focus on self-care, beauty and wellness products are predicted to outperform traditional categories like electronics.

What to do: If you’re in the beauty or wellness sector, create bundles that make it easy for consumers to indulge in self-care. Run campaigns focused on “treat yourself” messaging and offer limited-time beauty deals like flash sales on skincare or wellness products. Retailers outside of this space can still benefit by offering beauty or wellness-related add-ons as gifts with purchase​.

Source: FoxEcom

5. Sustainability is Key

Gen Z and Millennials are increasingly demanding sustainable and ethical products. Black Friday shoppers will be drawn to eco-friendly brands.

What to do: Consider creating a “Green Friday” promotion, featuring products made from recycled or ethically sourced materials. Communicate your sustainability initiatives clearly across your website and social media channels. You can also offer to donate a percentage to an environmental charity, or create a “buy one, plant one” program that plants trees with every sale​

Source: CroudFoxEcom

6. Live Shopping and Social Commerce Explosion

The growing popularity of Live Shopping and Social Commerce is no longer news. If you’re reading this blog post, chances are you are already active in this space. Get ready to double down, as consumers come to expect entertaining, digital shopping experiences!

What to do: Create a dedicated content calendar for the Black Friday period, focusing on driving audiences at scale. You can focus on product categories, deals and flash sales to create urgency, or take a more evergreen approach by making gift guides and educational content.

7. BNPL Popularity

Buy Now, Pay Later (BNPL) options are gaining momentum, especially for higher-ticket items. They make expensive products more accessible by breaking payments into manageable chunks.

What to do: If you haven’t already, integrate BNPL options like Klarna or Afterpay into your checkout process. Highlight these payment options prominently during the Black Friday season, especially for luxury or high-cost items like electronics and home goods. Be transparent about the terms to build trust with customers​

Source: Croud

8. AI-Powered Personalization

AI is set to play a bigger role in 2024, offering highly personalized shopping experiences that can improve conversion rates.

What to do: Use AI to analyze browsing and purchase history to offer tailored product recommendations and discounts. Install chatbots to assist customers in real-time with their Black Friday purchases. AI-driven platforms can help personalize email campaigns, ensuring that shoppers receive curated offers based on their preferences​

Source: Awin Croud

9. Omnichannel Shopping

Shoppers expect a seamless experience across all touchpoints, whether in-store, online, or on mobile. Retailers that provide an integrated experience across these platforms will win this Black Friday.

What to do: Make sure your website, app, and physical store are all aligned with the same Black Friday deals and offers. Offer options like buy-online-pickup-in-store (BOPIS) and curbside pickup to cater to consumers looking for convenience. Ensure your customer service teams are equipped to handle queries from multiple channels, from social media to live chat​.

Source: Croud

10. Gen Z & Millennial Spending

Younger generations will dominate spending this year, particularly in fashion, beauty, and electronics. However, post-purchase dissatisfaction remains high, with many younger consumers regretting impulse buys.

What to do: Focus on creating engaging, visually appealing campaigns that speak to the values of Gen Z and Millennials, like sustainability and uniqueness. Offer easy return policies to mitigate buyer’s remorse. Consider loyalty programs or exclusive rewards that encourage repeat purchases. Ensuring a smooth, transparent shopping experience will be key to building long-term relationships with these younger consumers​

Source: Awin Croud

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