Online sales during Black Friday/Cyber Monday 2021 (BFCM) experienced a 1.4% decline versus last year, according to Adobe Digital Insights. Many consumers started their holiday shopping early this year, rather than waiting for the Turkey 5 discounts. The National Retail Federation tracked brick-and-mortar retail traffic increased by 13.7%, which may have diverted some eCommerce sales. Of course, inventory challenges also hampered some brands’ ability to promote their products.
Beating the Odds
Despite all these headwinds, we grew sales for our clients during Black Friday/Cyber Monday 2021 by +57% and grew unit sales by +35% versus last year. Although traffic was down -10% vs. a year ago, what really help drive our success was strong content: our click rates increased by +75%, and conversions increased by +51% versus a year ago. And, despite steeply rising advertising costs due to automated bidding, we were able to deliver an increase of +129% in ad sales.
Execution, Execution, Execution
If “location, location, location” are the three things that matter in real estate, then “execution, execution, execution” are the three things that matter in eCommerce. The HINGE COMMERCE team delivered strong results by following key strategies and executing with excellence:
- Careful management of inventory and fulfillment strategies, with contingency plans
- Strong advertising strategies, good placement, great ads.
- Strong promotional strategies, to break through the clutter, while still generating profitable sales.
- Strong digital content, keywords and copywriting, product listing set-ups, ensured that once consumers saw the product, they converted.
The Benefit of Participating in Tent-Pole Events
Some of our clients did not promote during the Black Friday/Cyber Monday event due to inventory challenges. These clients were able to still grow vs. the prior year by +32% and increased unit sales by +2%. However, brands that participated in BFCM yielded 178% higher sales, all else being equal.
Our client, BioSteel Sports, was a stellar success story. BioSteel Sports almost doubled their Turkey 5 dollar sales (+96%) versus the prior year, increasing conversion rate by +86%, and even boosting the return on advertising spending by +5%.
“We are blown away by the success of our Black Friday/Cyber Monday 2021 event. The team at HINGE COMMERCE has been an incredible partner, making sure that our business was well-positioned for the holiday season months in advance. Then, in the weeks and days leading up to BFCM, they worked hard to ensure advertising, promotions, content, and fulfillment strategies were all in place. Thank you to the whole team. We look forward to finishing the year strong, and then looking for new opportunities in 2022!”
—Marc Michalski, Senior Manager, Amazon & 3P Capabilities – BioSteel Sports