BFCM Holiday Sale Guide

Black Friday Cyber Monday (BFCM), which has been gaining popularity in Japan in recent years, is coming up soon.

BFCM is a huge sales event that takes place in November.
This refers to two sales events: Black Friday, which takes place the day after Thanksgiving, and Cyber Monday, which takes place on the Monday after that weekend.
BFCM is considered an important period in the year-end shopping season in many countries, including the United States and Japan, and represents a major business opportunity for the retail and e-commerce industries.
In recent years, it has become a long-term sales event rather than just a one-day event.

reference: What will Black Friday and Cyber Monday be like in 2022? Introducing this year's e-commerce trends!

Global BFCM online sales during this period seem to be breaking records every year, and last year in 2023, Black Friday total sales $9.8 billion (approximately 1.4 trillion yen) , on Cyber Monday $12.4 billion (approximately 1.8 trillion yen)  It climbed to the top.

With each passing year, both sellers and buyers are making careful preparations for this annual big sale period, making it an opportunity that e-commerce site operators cannot afford to miss.

This time, the author, who lives in Canada, North America, will introduce some of the points of interest regarding this year's BFCM.

Black Friday at BFCM was originally a retail sales event held the day after the American holiday Thanksgiving.
There are various theories about the origins of Black Friday, but it is believed to have begun when retailers tried to turn a loss into a profit by slashing prices on products to attract customers.
Black Friday has become a great opportunity for retailers to acquire new customers, increase sales, and clear out inventory.
In recent years, sales not only at physical stores but also at online stores have been increasing year by year.

The old scene of people lining up from early morning to stay up all night at physical stores and then bustling through the doors - the so-called Door Busters - has become a thing of the past few years, but instead, more and more people are waiting in front of their PCs or mobile phones for online sales to start.

BFCM is also a season of great opportunity for the e-commerce market.
Cyber Monday, in particular, is a sale focused on online shopping, and is characterized by many sales of electronic devices and digital products.
It is said that the sale began in 2005 to further encourage the surge in online purchases that occurred after Thanksgiving, and it has had a major impact on the e-commerce market.
Many e-commerce businesses take advantage of this huge sale period to maximize their sales.

The following are the results of a consumption habits survey conducted by Shopify in 2022 among 2,000 Japanese consumers.

I feel like BFCM is becoming more established in Japan every year.

• Shop during the four days of BFCM 2022: 80%

• 59% want to find great deals before sales periods like BFCM

• 40% sign up for brand email lists to stay up to date on their latest promotions

• 42% plan to do most of their Q4 shopping during just the four days of BFCM

• 40% plan to spend more in 2022 than last year

• Approximately 25% plan to spend over ¥16,500 at BFCM 2022

• Two-thirds of respondents consider buying products before prices rise further

• 57% say that brands can increase revenue by offering discounts.

• 48% would switch to a competitor if they offered better pricing

• I want to buy things that last longer: 82%

• 62% would rather buy small things to improve their health than make one big purchase

Cross-border e-commerce is the key to success at BFCM 2024. Targeting the global market through cross-border e-commerce can help maximize sales.
Here, we will explain the trends and countermeasures for BFCM 2024 in cross-border e-commerce as follows.

reference: [BFCM] Trends and Case Studies from Other Companies 2020 Edition

In order to conquer BFCM 2024 and maximize cross-border e-commerce sales, it is necessary to understand and analyze sales data from past BFCMs and consumer purchasing patterns.

In recent years, BFCM has become a major event during the year-end shopping season, and it starts earlier every year.
Consumers are increasingly waiting for better prices outside peak seasons to avoid crowds and maximize savings.
As a result, purchasing activity picks up significantly from September, peaks in October and November, and then declines in December.
By analyzing this data and understanding consumer purchasing patterns and preferences, you can develop effective sales strategies that will allow you to run optimal campaigns and promotions during BFCM.
As a result, it leads to maximizing sales.

At BFCM 2024, it will be necessary to utilize social media to strengthen "customer engagement," an indicator of the trust and intimacy between a company and its customers.
Measures such as distributing coupons and holding campaigns using social media are necessary.
Companies can expect to increase their sales through cross-border e-commerce if they place importance on communication with customers and increase brand awareness.

Since 2023, email and online advertising have been declining, while TikTok's influence has been growing year by year.
Entering new platforms like TikTok is one option.
Choosing the right channels to reach your target audience will give you an edge over your competitors.

The key to BFCM 2024 is differentiating yourself from your competitors through your pricing strategy.
To do this, you need to develop unique promotions.
In particular, in order to maximize sales in the cross-border e-commerce market, it is necessary not only to compete on price with rivals but also to provide added value.
For example, you could offer bundled sales, limited-time coupons, or free shipping.

When setting prices, it is necessary to devise strategies to increase consumer purchasing power.

In order to differentiate from competitors, not only price but also the timing of the launch is very important.

If a competitor starts a BFCM sale for a similar product too early, they will simultaneously harvest the initial users, reducing the effectiveness of subsequent advertising and campaigns.

The typical timing of BFCM sales varies by industry, so be sure to understand which category your products fall into and plan your campaign accordingly.

For example, the timing of BFCM for general home appliances and gadgets tends to get earlier every year.

BFCM advertising and pre-sale announcements often begin in early November, so care must be taken to avoid missing out on potential customers in categories where BFCM sales occur early.

At BFCM 2024, the key to success will be to launch an effective campaign.
Here we will explain the following two campaigns:

• Social Media Campaign

Increase customer engagement by posting limited-time sale information on social media and holding gift campaigns.
Then, use hashtags to spread awareness of your campaign.

• Influencer Marketing

We will be using influencers to promote BFCM.
You can offer exclusive coupons and special offers to your followers, and gain a wide reach (this refers to the reach of web advertising; gaining a large number of followers will lead to increased awareness and an increase in followers).

Email marketing is one of the most important strategies for conquering BFCM in cross-border e-commerce in 2024.

During BFCM, advertising spending increases sharply and CPMs tend to rise significantly.

In this context, email marketing can be said to be the most effective channel for encouraging repeat and new purchases.

Maximize sales by offering special discounts and sales information based on customer interests and past purchases.
Especially during BFCM, it is important to carry out effective email marketing and increase your competitiveness in cross-border e-commerce.

Our company uses MA tools that are highly compatible with Shopify,KlaviyoWe recommend the introduction of the following.

Klaviyo's average open rate by industryHereYou can check it out here.

Mailing list goal

These measures also require a mailing list from which to purchase, so the key is how efficiently you can acquire a mailing list before BFCM. Since BFCM preparations are not something that can be achieved in a day, GO RIDE recommends that you start planning your efforts towards your target mailing list size at least six months in advance.

Mailing list distribution timing

BFCM literally stands for Black Friday Cyber Monday.

In the secondhand goods industry, where price is often an important decision-making factor, sales are often planned at the following stages. Decisions are made while looking at the sale price and competitor discount rates, so it is difficult to generalize, but generally the change in discount rate will be greater as the final sale approaches.

One of the reasons for this is that products that are easy to sell tend to sell out early in the Pre-BFCM Sale and Black Friday Sale.

Pre BFCM Sale

Black Friday Sale

Cyber Monday Sale

Final Sale

We have published useful articles related to email newsletters.

Please check it out!

[Click here for the relevant article]

・How to create a creative email newsletter design with Klaviyo

・How to send emails to Shopify customers using Klaviyo - From installation to setup

・Increase your sales by connecting Klaviyo with the Shopify subscription app "Go Sub | Subscription"!

Facilitating delivery during BFCM is also a key factor in maximizing sales.
Providing fast delivery services increases customer motivation to purchase.

In particular, in the case of cross-border e-commerce, delivery costs and time are major factors in determining whether or not a purchase is made, so an effective delivery strategy is necessary.

As disruptions to shipping are expected during BFCM, it is also important to expand customer support systems and set rules in advance (for refunds, returns, etc.).

To maximize sales during BFCM 2024, site design improvements are needed.
In particular, you need to optimize the UX to make the site easy to use for customers.
In cross-border e-commerce, localized language settings and designs are important.
Give your customers a smooth purchasing experience by making popular products more visible.

We explain the UI/UX points that you should pay attention to when designing an e-commerce site.

Please check it out!

[Click here for the relevant article]

Effective for improving CVR! We will explain the UI/UX points to pay attention to when creating an e-commerce website, with examples.

The introduction of retargeting ads will be key to maximizing cross-border e-commerce sales at BFCM 2024.
Retargeting is a method of displaying ads to customers who have previously visited your website.
Advertisements are displayed based on customer behavioral history, allowing you to directly approach customers who are likely to be interested.
This means that click-through rates and conversion rates are higher than those of regular banner ads.

With the competition at BFCM so fierce, you need to create a compelling offer to set yourself apart from the crowd.
Meanwhile, the content of sales is becoming more diverse.

The most common and popular option is big discounts on side-wide or limited items during the few days of BFCM.
In particular, electronics, apparel, furniture, and toys are likely to offer big discounts and are highly competitive.

Gifting is another campaign that is commonly seen in the cosmetics and beauty industry.
For example, "Customers who spend over $200 will receive a gift box!"
I used this to purchase products from a cosmetic brand at a discount last year and also get a holiday gift.

On the other hand, Anti-Black Friday Some brands, such as , are taking a stand against rush buying on Black Friday.
This is often seen in stores that have an environmentally conscious, ethical branding.

In recent years, the Canadian cosmetics brand The Ordinary has been holding long-term sales of one to two months, rather than just a few days, under the slogan "Shop Slow."
For customers, the sale period allows them to shop at their own pace and carefully consider their purchases, and for sellers, it also reduces their burden as orders are distributed and they no longer have to handle a huge number of orders at once.

Additionally, there are a few brands that are committed to ethics that are running campaigns where they don't offer any discounts during the holiday period and instead increase donations and fundraising.

For example, an ethical apparel brand from Canada KOTN Last year, the company donated its sales to help build schools in rural areas of Egypt.
This is an attractive activity for the growing number of ethical consumers in developed countries.

In addition to offering big discounts, it would be good to hold attractive campaigns that match your brand's colors and target customers.

Looking at last year's BFCM and the trends so far this year, there has been a notable increase in buy now, pay later.
In North America,Klarna,Affirm,AfterPay,Sezzleare listed as major BNPL providers, Last year's holiday season saw $16.6 billion in purchases made using deferred payment, up from the previous year. 14% increase  It has become.

In addition to the fact that more consumers are making large purchases all at once during the holiday season, the demand for deferred payment is expected to continue to increase due to the global economic recession and inflation.Introducing deferred payment features for the holiday seasonIt can be said that this will also become important.

For the 2023 holiday season, Mobile purchases also reached an all-time high, surpassing desktop purchases. This data shows that mobile-first store design is becoming even more important.
Be sure to optimize your campaign pages for mobile screens as well.

In Japan, large-scale BFCM sales are now being held, mainly by major companies, but there are still many companies that are hesitant to hold them.
Here are some reasons why companies should consider implementing BFCM in the future:

By understanding trends and taking action before holding a sale, you can increase your sales.
This is because customers are more motivated to buy during BFCM, which means they tend to make more first-time purchases.
Specifically, we can expect that customers who search on Black Friday or Cyber Monday will stumble upon an e-commerce site, register as members, and purchase products.

BFCM is a sales event held simultaneously in both the retail and e-commerce industries.
Therefore, it is entirely possible that a competing site is already hosting BFCM.
There is a risk that customers who were previously your company's customers may discover a competitor's e-commerce site that sells the same or similar products during BFCM and end up purchasing the product.
Therefore, in order to prevent existing customers from moving to competing sites, it will be necessary to actively participate in industry events such as BFCM.

I, too, am a consumer who shops during the holiday season, especially during BFCM.
Many consumers start making their "BFCM shopping lists" months in advance, not just for holiday gifts, but also for big purchases like furniture and appliances, beauty products, and bulk purchases of clothing.
It is common for people to make a lot of purchases at once when a sale starts.

I actually already have a shopping list, and even if there is something I want to buy, I hold off on buying it and write it down on the list, thinking, "I'll wait until Black Friday!"

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Shopify's support for multiple languages and currencies makes cross-border subscriptions easy.
Go Sub is a great way to lower the barrier to purchase for customers.
For example, if product prices are not displayed in their own currency, customers will have to check and calculate the exchange rate, which can be a hassle and may lead them to abandon the site.
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For GoSub inquiries or updates, please contactHerePlease check.

BFCM is a sales event that originated in the United States, but in recent years large-scale sales events have been held in many countries, including Japan.
This presents a golden opportunity for the retail and e-commerce industries to acquire new customers and increase sales.
BFCM time is fast approaching in 2024.
The key to success at BFCM is cross-border e-commerce.
This is because targeting the global market during BFCM, the time of year when customers are most motivated to purchase, will maximize sales.
In order to smoothly hold sales events in cross-border e-commerce, various measures are required, including adding functions as needed.
However, industry-wide sales events such as BFCM can potentially lead to increased sales not just during the period but in the medium to long term.
Use the BFCM trends and strategies introduced in this article as a reference and try to hold your BFCM event as soon as possible, regardless of its scale.

If you have any problems, please feel free to contact GO RIDE, which has knowledge of both the Japanese and American markets!