How to Prepare for 2024 Black Friday & Cyber Monday

With that in mind, let’s take a look at five of the driving trends that stand to impact Black Friday and Cyber Monday this year - and how your brand can take the most advantage of each one.

Black Friday & Cyber Monday Trends

1. Promotions & Discounts

Promotions remain the cornerstone of Black Friday and Cyber Monday success. In fact, according to our recent survey on holiday shopping behavior, the top three priorities for consumers were discounts, promotions, and value for money.

The key to winning holiday sales in 2024 lies in clearly communicating the savings customers will receive through your promotions; whether it’s offering discounts for folks who sign up for your email subscription or providing more value-based discounts such as free delivery or hassle-free returns, offering your consumers with different ways to save encourages loyalty, trust, and high value for money. You can also curate kits or bundles of products that align with a customer's interests or previous purchases, offering an opportunity for shoppers to explore complementary items.

2. Personalized Experiences

In a competitive market where consumers are inundated with choices, personalization has emerged as a fundamental element for fostering customer loyalty and satisfaction. Brands are beginning to recognize that one-size-fits-all marketing or product offerings no longer suffice. Instead, they are leveraging data-driven insights to deliver highly personalized experiences that resonate with individual shoppers based on individual actions and preferences.

The foundation of personalization lies in data collection; organizations must gather and centralize customer data from various sources, including website interactions, purchase history, social media activity, and loyalty program participation. Advanced analytics tools and machine learning algorithms can then process this data to identify patterns and trends, and help brands segment their customer base to create personas and tailor marketing efforts. During Black Friday and Cyber Monday, brands can leverage these insights to recommend products and promotions to individual shoppers that are more likely to resonate with those shoppers.

3. In-Person is Back

The 2024 holiday season is all about the omnichannel experience; 93% of shoppers plan to utilize both online and brick-and-mortar experiences this holiday season. The expectation of the modern day consumer is that they can make informed, confident purchase decisions whether they're browsing your site or the aisles of your nearest location.

And it's often not an "either/or" situation; shoppers will commonly initiate purchases journeys online, researching products, reading reviews, and comparing prices, before completing their purchase in a physical store nearby where they can see, touch, and try the product before buying. In fact, 65% of holiday shoppers stated that they research products online before making a final purchase, and 60% had previously utilized BOPIS (Buy Online, Pick Up In Store).

Retailers who can seamlessly connect these channels will create a seamless experience that drives customer satisfaction and loyalty. As the holiday season gets increasingly competitive, those who prioritize these hybrid experiences will not only see higher conversion rates but will also build stronger customer relationships that extend beyond the holidays.

4. Consistency is Key

As we just discussed, consumers interact with brands through a multitude of touchpoints before making a purchase. If the experience is disjointed or inconsistent at any point in this journey, it can lead to frustration and, ultimately, abandoned shopping carts or lost sales.

Consistency breeds trust. When consumers encounter a consistent brand experience across all touchpoints, it reinforces the perception that the brand is reliable and dependable. Trust is a critical factor in building long-term customer loyalty. Plus, a consistent brand experience reinforces brand identity and values. Whether customers engage with a brand online or in-store, they should encounter the same messaging, aesthetics, and overall feel. This cohesion strengthens brand recall and recognition.

From an operational perspective, consistency plays a pivotal role in streamlining processes for retailers. When a unified approach is adopted across pricing, product information, and inventory management, it significantly reduces complexity and minimizes the risk of errors. With consistent pricing strategies, retailers can avoid discrepancies that might arise between online and in-store pricing, ensuring a seamless shopping experience for customers.

A centralized product information management system ensures that product availability is up-to-date, reducing the likelihood of overstock or stockouts. This operational consistency not only enhances internal efficiency but also contributes to the overall reliability and reputation of the brand, especially during high-stakes events like Black Friday and Cyber Monday.

5. Sustainability is a Priority

While price remains the most significant factor for most consumers, there’s a growing segment that is willing to pay more for sustainability and ethical sourcing — in particular, the younger generation. With 59% of millennials and 50% of U.S. consumers overall are willing to pay a premium for sustainably produced products, we can see that there is a clear trend toward responsible consumption.

As shoppers are becoming more discerning, expecting brands to be transparent about their practices, they're digging into product information and basing purchase decisions on how well a product’s story aligns with their ethical priorities. In this era of “conscious consumerism,” shoppers are no longer satisfied with vague claims or superficial acts; they want proof. This means that brands must go beyond the buzzwords and offer clear, detailed information about how their products are made, what materials are used, which suppliers were involved, what standards and regulations are met, and what responsible end-of-life practices look like. After all, transparency builds trust, and trust drives purchases.

Prepare for the 2024 Holiday Season

As we gear up for the whirlwind that is Black Friday and Cyber Monday, brands must be prepared to deliver on the shifting expectations of today's consumers.

The key to success this year will be adaptability—leveraging data, streamlining operations, and delivering experiences that meet consumers when, where, and how they want it. Shoppers are more informed than ever before, relying on product descriptions, reviews, sustainability details, and pricing transparency to guide their decisions. Accurate and comprehensive product information not only helps customers find exactly what they’re looking for but also fosters confidence in their choices, leading to fewer abandoned carts and higher conversion rates.

Preparing for the holiday rush isn’t just about stocking shelves and offering discounts—it’s about ensuring that every product is accompanied with up-to-date, accurate, and easy-to-understand information across all channels. By providing the omnichannel experience that consumers are looking for, brands can meet consumer expectations, enhance the shopping experience, and ultimately, drive holiday success in 2024 and beyond.