7 Takeaways from BFCM

Consumer spending during BFCM went down 1.4% this year compared to 2020. However, with a total consumer spend of  $10.4 billion Cyber Monday was once again the year’s biggest online shopping day. Here are the top trends of BFCM 2021 and some takeaways to help you prepare your business for the rest of the holiday season. 

1. More carts are being abandoned 
   

According to Baymard Institute, for every 100 shoppers 70 will leave without making a purchase. According to Shopify, 49% of cart abandonments are caused by extra fees at checkout and 24% of people abandon their carts due to a lengthy sign-up process at checkout. Making your checkout experience fast, efficient and transparent will provide a better customer experience and help you avoid cart abandonment. 

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2. Out of Stock Messages have become more common
   

Out of stock messages are up 169% in November 2021 compared to January 2020. Having optimized fulfillment workflows to inform and recover purchases from those out of luck customers can give your business a competitive edge. 

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3. SMS drives holiday purchases 
   

Shopping on mobile is more popular than ever before and SMS marketing is a great way to get your offers directly into the hands of potential customers. SMS marketing will help your business stay top-of-mind, and increase sales. 

4. Buy Online and Pick up In store is a popular option. 
   

Curbside pick up is an efficient, cost-effective and safe way for customers to shop during the holidays and avoid big crowds or long delivery times. Features like curbside pick up became standard practice for many retailers during the past year and is popular among consumers. During BFCM this year, 18% of online orders included curbside pick up. 

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5. Shopping is becoming more spread out 

This year, 54% shoppers reported they were mostly or entirely done their holiday shopping by cyber monday. Meaning, consumers are shopping earlier, looking for deals and spacing out their purchases. Retailers who reach their customers with relevant offers earlier are more likely to get the sale.  

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6. Payment plans drive sales 
   

Customers love flexibility when it comes to making purchasing decisions. This year, 21% of customers said they were either likely or somewhat likely to use a buy now, pay later plan this holiday season. Retailers offering alternative payment methods are being rewarded with sales. 

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7. International sales are increasing 

This year, 15% of shopify orders during BFCM were international purchases. Offering affordable international shipping options increases your potential consumer base and ultimately your revenue.