Black Friday weekend has come and gone. But Oberlo merchants can happily celebrate their stores’ success, as this was the biggest Black Friday Cyber Monday weekend of all time. In this article, we’re going to break down some of the mind-blowing stats while sharing some lessons you can take forward for your 2019 Black Friday planning.
- Top 8 Highlights from Black Friday 2018
- 1. How Much Did Oberlo Merchants Make?
- 2. Black Friday GMV Grew by 35.3 percent Year Over Year
- 3. Which Countries Bought the Most Stuff?
- 4. Which Product Categories Made the Most Money?
- #5. Top Products in Terms of Order Volume
- #6. Top Products in Terms of GMV
- #7. Most Popular Time People Shopped on Black Friday
- #8. Most Popular Time People Shopped on Cyber Monday
- Want to Learn More?
Top 8 Highlights from Black Friday 2018
1. How Much Did Oberlo Merchants Make?
As you’ve probably already read from the title: Oberlo store owners made an astounding $30+ million in revenue over the Black Friday weekend, which spanned Thursday, November 22, to Monday, November 26.
While revenue was highest on Black Friday, the rest of the weekend held pretty steady with only a slight variance in sales volume. The lowest performing sales day was Thanksgiving Thursday.
However, don’t discredit the importance of the Thursday when planning your 2019 Black Friday strategy. You can help elevate the sales for the rest of your weekend by getting a jumpstart on your marketing before the Black Friday frenzy.
2. Black Friday GMV Grew by 35.3 percent Year Over Year
The five-day Black Friday weekend – Thanksgiving Thursday through Cyber Monday – grew by an average of 35.3 percent. Black Friday itself had the highest boost of year over year growth with a sky-high 45.7 percent. Saturday’s year over year GMV stole second place position with 39.4 percent growth. (And just so we’re all on the same page, GMV stands for gross merchandise volume and refers to the total amount that Oberlo merchants paid for the products sold in their stores.)
In terms of GMV, the biggest Black Friday sale days for Oberlo store owners are (in order of highest to lowest): Friday, Saturday, Monday, Sunday and Thursday.
However, Thanksgiving Thursday grew by a higher rate than Sunday. What does that mean? More store owners are starting their Black Friday sales a day earlier. What was once a one day shopping sale has evolved into a five day sale spree. However, the biggest “money” days are still Black Friday and the following Saturday.
So, when planning your Black Friday 2019 strategy be sure to host a sale on Thursday. And your best offers on Friday and Saturday. But you’ll also still want to have some compelling offers on Sunday and Cyber Monday to drive your highest sales growth.
3. Which Countries Bought the Most Stuff?
Not surprisingly, American shoppers take the top slot for most Black Friday purchases. Black Friday did originate in the United States, after all.
A little more surprising, though, is the massive year over year growth of the second place country: France. GMV grew by 142 percent for France, showing that you don’t need be market to English speaking countries only.
Third place goes to Great Britain.
The most interesting finding after analyzing the top stores in terms of GMV is that more than half of the biggest markets for Oberlo stores come from non-English speaking countries: France, Brazil, Germany, Netherlands, Italy, and Spain. More merchants are targeting countries where English isn’t the main language helping Black Friday become a more international shopping event.
As for English speaking countries: United States, Great Britain, Australia, and Canada round out the top 10.
The important thing to remember when running your online store is that you can and should go global when promoting your store. Even if English is your native language, you can partner with international freelance writers to write ad copy in other languages to give your products’ popularity a greater international reach. You can also use a Shopify app that’ll convert your prices into different currencies. That way international shoppers will know exactly how much your products cost.
And remember, with ePacket shipping you can sell internationally without breaking the bank. Shipping costs tend to be only a couple of extra dollars compared to shipping items on your own, which can balloon to three or four times the product cost.
4. Which Product Categories Made the Most Money?
In a surprising turn of events, the most popular product category (in terms of GMV) is Home and Garden. Black Friday shoppers bought more home products than anything else.
But that doesn’t mean the second place winner didn’t come close. Women’s fashion was only slightly edged out of the top spot, making it a very profitable option for online retailers. To that end, women’s clothing took the top spot when it came to order volume.
Men’s fashion rounds out the top three.
What’s interesting to note here is that if men’s and women’s fashion were combined into one category, it’d be pretty safe to say that fashion steals the show for Black Friday weekend purchases.
Fashion stores tend to be the most popular stores year-round so it’s not too surprising that shoppers zero in on clothing when on a buying frenzy.
Toys & Hobbies, Sports & Entertainment, Jewelry, and Beauty & Health are some more notable mentions.
#5. Top Products in Terms of Order Volume
Some of the top products that were popular Black Friday weekend include:
This product has been performing well for a while now but did have a higher than usual level of orders on Black Friday. It’s likely to be a high performer in 2019 as well. With more people hunched over their laptops, this product is exactly what people need.
This product had its peak order volume for Black Friday. It acts as a massager and also a comb that’s used in the shower.
Winter clothing tends to perform well on Black Friday and this thermal underwear was one of the weekend’s best sellers. It’s worn under clothing to add an extra layer of warmth for those frigid winter days.
#6. Top Products in Terms of GMV
These are some of the top products from Black Friday weekend in terms of GMV:
Wireless headphones were some of the most profitable products sold during Black Friday weekend. They’ve been growing in popularity in recent months and will likely to continue to sell well in 2019 too.
Not surprisingly, since this product had one of the highest order volumes for the weekend bonanza, this product also generated one of the highest GMVs as well. So this is definitely a winning product that you’ll want to include in your store’s collection.
In recent months, more parents have been turning to electronic devices to keep tabs on their children’s whereabouts. This popular product performed well in terms of revenue for store owners during Black Friday weekend. It’ll likely continue to perform well into the new year.
#7. Most Popular Time People Shopped on Black Friday
What’s the most popular shopping time on Black Friday? 5 p.m. for the UTC timezone. (UTC, by the way, is five hours ahead of Eastern Standard Time. So 5 p.m. UTC is 12 noon in New York and 9:00 a.m. someplace like Los Angeles.)
But shopping times start increasing around 12 p.m. UTC and start decreasing around 10 p.m. UTC. Noticeably, people tend to begin their shopping during work hours, which likely means that many people tend to take Black Friday off of work.
Thanksgiving weekend is a holiday weekend for Americans, so they may decide to take a couple extra days off to get a jumpstart on their holiday shopping. So afternoon shopping tends to be quite popular.
When planning your Black Friday, remember that this is going to be a full-day event. You’ll want to have some extra customer support freelancers helping during the busiest time of the day: the afternoon and early evening. But sales will be rolling in all day long.
#8. Most Popular Time People Shopped on Cyber Monday
What’s the most popular shopping time on Cyber Monday? 3 p.m. for the UTC time zone, which is 10 a.m. on the East Coast.
But shoppers were busy shopping all day long. The first boost of the day starts at midnight on Cyber Monday and begins to peak again around 3 p.m. Shopping starts slowing down again at around 11 p.m.
The biggest dip tends to be around 4 a.m. til 11 a.m., when American shoppers are sleeping.
What does this mean? On Cyber Monday, people are likely back to work and do most of their online shopping after work hours. Though with a 3 p.m. peak shopping time, some shoppers could very well be doing their holiday shopping at the office during their downtime.
While peak shopping tends to be in the evening, next year you’ll still want to keep your ads running throughout the day to consider all time zones and maximize your sales.
Black Friday weekend offers a glimpse of what 2019 will be all about. Some popular products towards the end of the year will likely be high performers in 2019 too. Some of the Black Friday marketing strategies you learned in 2018 will help you better succeed in the next one. Niches like fashion tend to perform well for big sales but they also perform well throughout the year too. But the most interesting data piece from this article is just how international Black Friday is becoming. So be sure to broaden your ads to reach a bigger and more international audience in the upcoming year.
How did your store do this Black Friday 2018? How much did you make in sales? Comment below!