LONDON – Analysis of Black Friday Cyber Monday (BFCM) shopping trends indicates that 2022 saw average order values in the fashion sector increased by 9.8 per cent from 2021. Online fashion sales grew by 8.2 per cent and traffic by 9.3 per cent, indicating the enduring popularity of BFCM weekend, despite a backlash against it from environmentalists. The analysis also highlighted a breakthrough in mobile ecommerce, with nearly-two thirds of sales (63 per cent) now on mobile devices – up 10 per cent from 2021. Consumers are now not just using smartphones to research but are actively purchasing through them, the analysis from Nosto shows.
This is against the backdrop of overall positive trends in terms of year-on-year (YoY) growth in traffic (5.4 per cent), sales (8.8 per cent), and average order value (AOV) (6.2 per cent). However, brands are having to introduce heavy discounting to lure shoppers. On average, consumers bought products at a 40 per cent discount, with 20 per cent the minimum accepted discount level for most shoppers. 83 per cent of all online sales during BFCM involved discounts.
Nosto’s analysis is based on over 107 million visits across 1,269 ecommerce stores over the BFCM 2022 weekend in Europe, North America, Latin America, Asia Pacific, Middle East, and Africa.
“Predicting consumer behaviour this Black Friday/Cyber Monday was always going to be hard for retailers given current economic conditions,” said Guy Little, Nosto’s head of brand narketing. “What we see is that shoppers are still spending, with sales, traffic, and average order value all up. However, they are extremely discount-conscious, demanding major price cuts before opening their wallets. They are also pivoting more heavily to mobile, using their smartphones to purchase as well as research products, particularly those with lower price points.”
In terms of sales volume, Black Friday itself still reigns supreme. It saw year-on-year increases in traffic (6.3 per cent), sales (8.4 per cent), and AOV (4.9 per cent), and made up 33 per cent of total sales over the four-day period. While Cyber Monday saw the biggest YoY increases in traffic and sales it still doesn’t manage to top Black Friday in terms of overall sales volumes. However, traffic increased by 7.5 per cent, sales by 11.7 per cent, and AOV by 7.6 per cent.
