Black Friday is the day that reminds us how much people like to rub elbows in physical stores in search of a great deal. While there has always been an impact on online campaigns on Black Friday, our initial analysis shows that consumer behavior continues to shift online, and perhaps to spending a little more time with family.
We’re seeing two interesting differences between 2017 and the previous two years:
- The jump in spend on Black Friday was 11% more than we observed over the prior two years.
- Thanksgiving shopping was much quieter than prior years.
Black Friday Bump 11% Larger
For our group of US advertisers, we saw a 62% bump in spend relative to the average spend for the rest of November. This was 11% higher than we observed in 2015 and 2016. Are more consumers looking for deals online instead of heading to the stores? The rise in spend was a result of increased volume and higher click-through rates, which increased from 2.2% to 2.8%.
More Time with Family
The other interesting observation was that Thanksgiving was slower than in previous years, continuing a pattern we saw last year. Spend was only up 14%, a significant change from 2015 where the bump was 53%. Are people more focused on their families on Thanksgiving or just heading out to the stores earlier for the pre-Black Friday deals?
Stay tuned for updates on Cyber Monday and the rest of the holiday season.