90% of Spanish e-commerce will carry out some promotion for Black Friday, according to the “Black Friday 2022 Forecast and Sales Report” prepared by digital Y online trust. The last Friday of November is therefore consolidated among Spanish companies and consumers as a business event on the calendar: in 2015 only 60% of Spanish businesses followed this Anglo-Saxon tradition.
Nevertheless, In the last year, the way in which businesses plan and face their campaigns during this period has evolved.
More price reductions on products
Price reductions on specific products gain prominence, to the detriment of free shipping costs, bonuses for future purchases or discounts on products created specifically for these dates.
Specific, 36% of e-commerce plans to apply offers on the price of some specific productswhich represents an increase of 6 points compared to 2021, and approximately 30% will make a general price reduction, a figure that is maintained compared to last year. Nevertheless, bonuses or discounts for future purchases are halvedwhich go from representing 14% of the promotions planned in 2021 to 7% in 2022.
E-commerce that will make discounts on products created specifically for these dates or free shipping promotions, does not exceed 3%.
Shorter duration of promotions
Most of the Spanish e-commerce surveyed plan to reduce the period of time in which the promotions will be valid. Gone are the days when the Black Friday and Cyber Monday sales were anticipated for more than a week and lasted until the Christmas sales.
The “Black Friday 2022 Forecast and Sales Report” of Adigital and Confianza Online reflects that this year, 1 in 5 Spanish e-commerce will limit their promotions exclusively to Friday, November 25, Black Friday Properly said. And only 5% of e-commerce will extend the Black Friday campaign until Christmas, indicating a trend that could become general in the coming years.
In addition, 43% of e-commerce will apply their Black Friday offers throughout the entire weekend until Cyber Monday, Monday, November 28. Only 30% will extend the promotion during the previous week.
It should be noted that none of the businesses surveyed will apply the promotions only on Cyber Monday, making it clear that this date is of interest only because of its proximity to Black Friday.
Increase the impact of sales during Black Friday
Spanish e-commerce foresees a great positive impact on the percentage of sales during the Black Friday campaign this year: 1 in 5 companies expect to concentrate between 10% and 30% of their annual sales between Black Friday and Cyber Mondaythus increasing the seasonality of sales.
In addition, 5% of online businesses expect 50% of their annual business to be concentrated on Black Friday, a percentage very similar to 2021.
Ad spend on Black Friday grows
The positive impact that this festivity in the Spanish economy depends more and more on the advertising and marketing strategies of companies. The report reflects that, in 2022, 85% of e-commerce will invest in advertising campaigns on the occasion of Black Friday.
It is especially significant that 40% of the surveyed e-commerce will allocate between 5% and 25% of their total annual advertising investment to this campaignwhich represents an increase of 12 points compared to 2021.
In addition, 10% affirm that they will invest more than 25% of their total advertising investment during Black Friday.
The supply chain is normalized
Despite the war in Ukraine, the “Black Friday 2022 Sales and Forecasts Report” reflects that the 2021 supply crisis is not being reproduced this year. Only 35% of the companies surveyed claim to be having complications with supplies, compared to 55% that reported this situation in 2021. 38% do not foresee any impact due to lack of supplies, and 28% affirm that their company continues to operate normally.
Recommendations for companies for Black Friday
Facing Black Friday, Adigital and Confianza Online recommend that e-commerces prepare their companies for the foreseeable increase in online sales, and review the general e-commerce conditions and information on promotions to guarantee that the obligations and commitments acquired will be fulfilled.
Both organizations stress the need to take care of dumping prices on the website to avoid errors. Also, make sure have enough stock for launched offers (or inform about available units) and in case of stock out, inform the client as soon as possible and offer alternatives.
Since a good percentage of users abandon the shopping cart if the delivery times are too long, it is recommended have the right logistics partner that allows a delivery between 24 and 72 hours. And look for the delivery modality that best fits the policy of each e-commerce, taking into account that the options most valued by consumers are home delivery, at the collection point or scheduled according to time slots.
Regarding shipments, Adigital and Confianza Online recommend evaluating the possibility of offering packages or bags for a certain number of shipments such as “flat rate” or “minimum amount” of the order, to that shipping costs are free for the consumer without undermining ecommerce. Also, provide tracking and tracking options for the shipment, so that customers are always informed.
Among the recommendations, Adigital and Confianza Online emphasize that the returns process should be as simple and transparent as possibleand remind ecommerces that the term must always be at least 14 calendar days from delivery, facilitating the form both on the website and in each order that the online store processes.
