The analysis was conducted by the conversion rate specialists Smarter Click, who analysed the data from clients using their basket abandonment email technology during November 2018 to form the basis of findings.
- Conversion rate specialists saw an average conversion rate from basket abandonment email reminders of 45% on Black Friday 2018
- The rate dropped to 23% and 32% on the subsequent Saturday and Sunday
Cyber Monday had a 37% conversion rate
- Average order value was 8% higher during the week of Black Friday than the average for the rest of the year
From their 2018 campaigns, the team found that the number of abandoned baskets grew throughout November, with conversion rates averaging between 10 and 15% from email reminders that were sent out.
On Black Friday itself, conversion rates shot up to 45.12%, falling to 23.49% on the subsequent Saturday, and back up to 32.34% on the Sunday. The conversion rate rose once again on Cyber Monday, at 37.1%.
The team also noticed that the build-up of stored baskets is something that commences in October; the number of stored baskets began to rise in October 2018, and a similar pattern has also been noticed since the start of October this year.
The average order value (AOV) across the Black Friday week was also higher than the rest of the month, by an average of 8%.
Commenting on the findings, Ennis Al-Saiegh, CEO of Smarter Click (www.smarterclick.com), said: “Although we have increasingly noticed that Black Friday is lasting longer than just a day, and typically lasts for around a week nowadays, the fact that conversion rates are so much higher on the day itself seems to indicate just how much consumers still associate grabbing the best deals with Black Friday itself. The findings suggest that consumers are filling their baskets with their desired items before the day, but waiting for the offers to come in on Black Friday to actually make their purchases.”