Record-breaking sales once again affirmed the importance of the Black Friday time period
Black Friday and Cyber Monday (BFCM) 2024 once again broke records. Global payment provider Barclaycard reported a 9.5% increase in UK retail transactions compared to Black Friday 2023, while user-generated content platform Bazaarvoice noted a 9.3% rise in orders across EMEA.
At the same time, shifts in consumer preferences, payment methods, and hybrid shopping strategies highlighted how the retail landscape continues to evolve.
This year’s BFCM period presented unique challenges and opportunities for retailers. On a positive note, it aligned with the last payday before Christmas. The drawback was that its later date, falling on the 29th of November compared to the 24th in 2023, created a shorter post-BFCM shopping window leading into Christmas.
Yet, as Rory O’Neill, chief marketing officer at payment service provider Checkout.com, noted, “amidst a challenging economic environment, retailers are clearly working hard to incentivize shoppers to spend their hard-earned cash—and it has paid off.”
Black Friday timing challenges and pent-up demand
BFCM 2024 coincided with payday for many consumers, creating an intense and compressed shopping period. Huboo, a fulfilment company, observed that this shorter timeline drove higher peaks in activity. “The demand is more pronounced and concentrated,” said Andrew Harkness, vice president of sales and marketing at Huboo. “This condensed timeline is making the season not only busier but also more dynamic than previous years.”
Black Friday itself dominated the weekend, as evidenced by Checkout.com data showing peak sales between 9 a.m. and 10 a.m. on Black Friday itself.
“The spike in sales at the start of the working day on Black Friday shows there is a keen appetite from UK consumers to snap up a bargain early doors,” O’Neill said.
Black Friday’s continued dominance
Despite the expansion of sales across the entire BFCM weekend, Black Friday remains the central focus for most businesses. With multiple retailers starting their discounts early, many focused their marketing efforts on offering early incentives and building anticipation ahead of the main event.
Digital marketing platform Constant Contact revealed that over 41,000 email campaigns were sent to nearly 460 million contacts leading up to Black Friday, including 11,000 campaigns reaching 150 million recipients on the day itself, showing that the build-up this year was significant.
In contrast, retailers sent 7,000 campaigns to 100 million contacts on Cyber Monday.
However, insights from technology company Block’s commerce tools – technology platform Square and buy now, pay later (BNPL) provider Clearpay – suggest that the singular focus on Black Friday may be misled.
Saturday 30th November emerged as a key shopping day, with the peak shopping minute occurring at 8:01 a.m. on Sunday 1st December. This suggests that spreading marketing efforts across the entire weekend could yield better results.
What consumers bought on Black Friday
Customer spending during Black Friday showed a mix between planned and impulse purchasing.
Consumer spending patterns during BFCM 2024 reflected a mix of planned and impulse purchases.
Checkout.com data showed a spending spike at 1 p.m. on Black Friday for electrical stores, with a 478% increase compared to the last Friday in October, as shoppers targeted big-ticket items like TVs and appliances. This compared to an overall growth in purchases of 70% compared to the final Friday in October.
Meanwhile, cosmetics purchases peaked at 7 p.m., with a staggering 563% growth during the same period.
“Early purchases from general high street retailers and department stores indicate people are browsing and looking for deals across all consumer categories early but not necessarily with a specific deal in mind,” O’Neill explained. “Later surges in categories like cosmetics suggest impulse buying driven by targeted marketing.”
Data from Block showed that gift cards also gained traction with a 31% year-on-year increase in the number purchased during the BFCM weekend, highlighting their appeal as a stress-free gifting option.
While most categories peaked on Black Friday, Checkout.com data showed that travel and clothing categories reached their peak at 9 p.m. on Cyber Monday, reflecting strategic last-minute deals by retailers.
BNPL also saw a lift of 10% for provider Clearpay. Beyond fashion and beauty, the largest item Clearpay categories worldwide were personal care, household supplies, health care, gift cards, and office supplies as consumers look to shop and pay flexibly on an array of gifting items.
The shift toward hybrid and mobile shopping on Black Friday
Consumer shopping habits are increasingly blending online and offline experiences. E-commerce overall showed strong growth. Block reported a 16% growth in online sales and a 31% rise in in-store purchases. Online transactions, however, boasted cart sizes four times larger than in-person purchases.
Mobile shopping continued to gain momentum. Bazaarvoice noted a 3.91% increase in mobile orders across EMEA, “The rise in mobile orders reflects how integral mobile devices have become in the shopping journey,” said Zarina Stanford, CMO at Bazaarvoice.
The hybrid model of shopping is also gaining traction. QR Codes Unlimited, who analysed data from over 10,000 Shopify stores, reported a 74% year-on-year increase in QR code scans that led directly to online purchases.
This data revealed a significant increase in consumers engaging with products in-store but completing purchases online.
Jonathan Palley, a founding partner at QR Codes Unlimited, observed, “as the retail landscape evolves, those who embrace this hybrid model will likely stand out in a competitive marketplace.”
Black Friday discounts or loyalty?
BFCM remains synonymous with discounts. The average promotion offered to consumers over the notoriously discount laden weekend was 21% at Square sellers, with online and in-store discounts averaging 22% and 21%, respectively.
However, loyalty programs played a growing role, turning seasonal shoppers into long-term customers. Data from loyalty platform LoyaltyLion revealed a 119% increase in new loyalty program members and a 746% jump in referral activity compared to typical weekends.
“BFCM is about much more than discounts—it’s a chance to build meaningful, lasting relationships with customers,” said LoyaltyLion CEO Charlie Casey.
Beyond purchases, consumers engaged with brands through profile completions, recycling initiatives, and quizzes, which grew by 454% over the BFCM weekend according to LoyaltyLion data from over 4000 stores.
Black Friday strategic takeaways for retailers
Black Friday is a chance for retailers to not only drive sales but to drive long lasting … [+] relationships with customers.
With this year’s data once again confirming the growing importance of the BFCM time period in the retail calendar, retailers need to continue to reflect on how they can use this event to not only drive sales but build lasting relationships with their customers.
The condensed time frame for Christmas sales this year highlighted once again the importance of having operations that can withstand these extreme peaks. Huboo increased staffing and engaged its leadership team in warehouse operations to handle demand. “Adaptability is key,” the company noted, highlighting the value of advanced planning.
Looking ahead, Checkout.com’s O’Neill warned against an over-reliance on tentpole events like BFCM. “It’s a marathon, not a sprint,” he said. “Retailers should not just focus efforts on these events but look for ongoing, sustainable growth through targeted sales throughout the year.”
Sarah Jordan, chief marketing officer of Constant Contact echoes this sentiment, noting that many small businesses experience “a surge of new customers” during this time period, but many “miss out” on this “powerful growth lever” by “not engaging with those shoppers after the transaction is complete”.
Record-breaking sales, the continued rise of mobile and hybrid shopping, and the growth of loyalty programs highlight how the retail industry is changing.
Nick Molnar, head of sales at Block, explains how today’s customers want “optionality” over how they pay and where they shop. “The Black Friday and Cyber Monday weekend remain a critical part of the holiday sales season, but shopping habits are evolving,” he states.
Retailers must continue to adapt to the customer that wants flexibility and ease over where they shop, and look to ways that they can build on customer loyalty. That way they can take the lessons and the wins from Black Friday 2024 and use them to build a solid strategy for 2025.
