Cyber Week 2023 Report

WRITTEN BY: KATE MACCABE

We dive into the numbers, trends, and surprising strategies that lit up this year’s shopping extravaganza

As we round out the 2023 BFCM season, the peak shopping season of the year served up a mixture of tried and true trends, surprising promotional strategies, and numbers that brought much needed buzz and energy to the year.

We gathered the biggest and best stats and themes we saw across retailers in November:

BY THE NUMBERS

• $9.8 Billion in Revenue on Black Friday, November 24th 2023 (Adobe)
• $12.4 Billion in Revenue on Cyber Monday, November 27th 2023 (Adobe)
• $4.2 million sales made at 12:01 pm EST on Black Friday, earning the peak sales per minute (Shopify)
• The top five countries driving BFCM revenue in 2023 are (Shopify)

               1) United States
               2) United Kingdom
               3) Australia
               4) Canada
               5) Germany

• Cross-border orders represented 15% of all global orders (Shopify)
• 118 million people purchased in stores (ICSC)
• 2 out of 3 consumers report they still have a significant amount of holiday shopping to do (ICSC)

We captured  five trends that ruled the Black Friday/Cyber Monday season this year, and awarded each with a superlative of the season.

• Most comprehensive: Omnichannel promotion in digital ads: This year, retailers leverage the digital landscape to highlight BFCM deals  available both in store and online. Kiehl’s is our favorite example of the season. Crisp. Clear. And Comprehensive.
• Most eager: Cyber Week becomes Cyber Month: Building upon the trend that started in 2020, this BFCM season saw brands launching promotions as early as October 30th. The majority of brands launched BFCM campaigns the week of November 13th.
• Most strategic: Create demand with Early Access messaging: To diversify  marketing messaging, build consumer interest and grow subscriber lists, many brands invested in “early access” messaging, with Super Goop being one of the leaders in the space.
• Most shocking: Deep discounting on final sale items: Across categories, this season saw extremely deep discounts – 75%+ and counting! Brands paired the deep discounts with stringent “no returns” policies, leaving consumers with high-risk decision making that hasn’t been a factor in BFCM’s of the past.
• Most generous: Cyber Monday extending through the week: As Cyber Monday came to a close on November 27th, many companies took the liberty of continuing the sales not only through Tuesday, but the full week following Cyber Monday. Companies like Therabody are hoping to keep the good times rolling for both their revenue streams and customers, extending the sale into December.

Bookmark this roundup, and before you know it planning for 2024 Black Friday and Cyber Monday will be underway. This guide provides a jumping-off point as companies look forward to next year’s holiday season.

Looking for support with creating 2024 strategies for your business? Schedule time with Flywheel to get the conversation started.