September 19, 2024
SAN FRANCISCO – Marketers at San Francisco-based WooCommerce released results from a July 2024 Holiday Trends survey earlier this month as online sellers prepare for Black Friday Cyber Monday (BFCM) and the excitement of the holiday selling season.
“Nearly half (46%) of merchants said that up to 30% of their annual sales volume comes from BFCM and the holiday season,” writes Tamara Niesen at WooCommerce. “For 18% of stores, that number is between 30% and 50%, and 8% of stores said BFCM contributes more than half of their yearly revenue. As we know from our holiday season bank statements, Black Friday Cyber Monday is a huge revenue driver for ecommerce businesses. In 2023 alone, BCFM generated $9.8 billion, and this year will be even bigger.”
The comprehensive survey was designed to help understand strategies, challenges, and expectations for the upcoming peak sales period across merchants, developers, and agencies. The findings look at how businesses are planning to capitalize on the season and what new tactics they intend to implement.
A striking 66% of respondents said they saw a spike in sales from October to December. This year, 34% of merchants are shaking up their approach to BFCM and plan to:
• add new products (26%);
• ramp up marketing efforts (24.6%); and
• upgrade website performance (16.4%)
These strategies signal a broader effort to offer better shopping experiences, attract new customers, and anticipate that holiday sales surge.
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