Black Friday, a shopping event that traditionally kicks off the holiday shopping season, is set for Friday, November 29, 2024. With the day around the corner, it’s crucial to understand how consumers make their purchase decisions. With an abundance of deals and offers available online, consumers heavily rely on product reviews to make informed decisions. But just how important are these reviews on Black Friday online purchases in 2024?
According to data from Black-Friday. Global, there’s been a consistent rise in online shopping during Black Friday events over recent years. Last year, 70% of people who bought something during Black Friday did so online. The global pandemic further accelerated the move online, with consumers preferring the safety and convenience of e-shopping.
The United States, being the birthplace of Black Friday, has consistently seen an uptick in online sales during this event. In recent years, online Black Friday sales have seen growth rates of approximately 22%, with total sales often surpassing the $9 billion mark. Europe, while traditionally not as involved in Black Friday, has rapidly adopted the shopping holiday. Countries like the UK, Germany, and France have reported an increase of 15-20% in online sales during Black Friday events in recent years.
Electronic items, particularly smartphones, laptops, and gaming consoles, tend to be the hottest sellers during Black Friday. Home appliances, such as vacuum cleaners, coffee machines, and air purifiers, also see a significant uptick. In the pet supplies category, items like pet food, toys, and grooming products are popular. These trends are expected to persist in 2024. On average, American consumers have been known to spend around $300 to $400 per person on Black Friday deals, with Europeans not far behind at an average of €250 to €350. These numbers, of course, can vary based on economic conditions and specific hot-ticket items available each year.
Millennials (69%) and Gen Z (67%) are the most likely to have made purchases during Black Friday last year. Gen Z favors social media for Black Friday deals, seeking authentic recommendations from nano and micro-influencers. Platforms like Instagram, Facebook, and TikTok play a significant role in influencing purchase decisions, with many users making purchases after seeing products on influencer profiles. Electronics and fashion are the prioritized categories for consumers during Black Friday, with Gen Z being the most likely to spend between €500 to €1000.
A study by Bazaarvoice highlights that over 80% of online shoppers consider reviews essential when deciding on a purchase. Especially on Black Friday, when deals can seem too good to be true, reviews offer an authenticity check, helping consumers avoid post-purchase regrets. Reviews often provide insights not covered in product descriptions. Whether it’s the longevity of a gadget, the efficiency of a home appliance, or the quality of pet supplies, reviews give a real-world perspective that product specifications often miss.
Consumers typically read multiple reviews before deciding. Having a higher number of reviews can be as crucial as the quality of those reviews. Shoppers appreciate genuine reviews. A mix of positive and negative reviews can enhance credibility. There’s a stronger resonance with reviews from fellow countrymen. For example, an American shopper is more likely to trust a review from another American than from someone overseas. Sites that allow Q&A sessions, photo uploads, or video reviews tend to be more engaging and trustworthy for potential buyers.
As Black Friday sales continue to burgeon online, the significance of reviews in boosting purchase decisions becomes even more crucial. Brands must not only focus on collecting reviews but also ensure they are genuine, comprehensive, and easy to access. In this age of digital commerce, reviews are not just testimonials; they’re powerful tools that can significantly influence the final decision of a purchase. As we move into 2024, this trend is expected to grow, making reviews, alongside user-generated content (UGC), an integral part of the online shopping experience. This is especially true for categories like home appliances and pet supplies, which have seen substantial growth in recent years. With Black Friday 2024 just around the corner, it’s time for brands to gear up and make the most of this opportunity.
Are you ready to boost your Black Friday sales?