Black Friday 2024: Black Week is solidifying as a phenomenon, with a 18% increase in weekly revenue. Friday brings the highest increase in average basket size, +24%, but transaction numbers remain stable
MerchantPro, local SaaS eCommerce platform, analyzed the performance during the week leading up to Black Friday 2024, confirming the establishment of Black Week as an extended shopping event that captures consumer interest over seven days.
MerchantPro, local SaaS eCommerce platform, analyzed the performance during the week leading up to Black Friday 2024, confirming the establishment of Black Week as an extended shopping event that captures consumer interest over seven days.
Data collected from a sample of approximately 1,000 local online stores shows a 5% increase in the number of orders and an 18% rise in revenue compared to the equivalent week of the previous year (November 5-11, 2024, vs. November 7-13, 2023). Additionally, the average shopping cart value increased by 12%, indicating a greater willingness among consumers to invest in quality products.
This approach of extending the discount period was observed last year as well, but in 2024 the Black Week model has emerged as an effective strategy for more and more retailers, who began their discounts early and continued them through to Cyber Monday.
The trend reflects an increased consumer adaptation to discounts throughout the entire week and a more balanced approach to purchasing, leading to a higher volume of orders and revenue compared to previous years.
On the actual Black Friday, Friday, November 8, 2024, some interesting changes were observed: the number of transactions remained stable, but the average basket value rose by 24%, reflecting a greater consumer focus on premium products. Consequently, revenue on this day increased by 24% compared to the previous Black Friday.
"We continue to see market maturity, where buyers are planning their Black Week purchases more rationally, drawn to extended multi-day offers. This shift has had a positive impact on online stores, which benefit from a more balanced distribution of transactions throughout the week as well as increased revenues," says Arthur Rădulescu, CEO of MerchantPro.
The most interesting dynamic this year was observed on Sunday, November 10, when the number of transactions was only 15% lower than on Friday—a record ratio for a day in Black Week compared to the peak seen on the traditional Black Friday.
"The Sunday after Black Friday brought a significant wave of orders for two reasons. On one hand, consumers realized it was their last chance to take advantage of discounts. Many preferred to review offers throughout the week and finalize purchases on this day when many stores ended their campaigns—a behavior increasingly common with the extended discount period. On the other hand, the chilly weather that began on Sunday likely played a major role as well, with rain traditionally serving as a driver for eCommerce sales," explains Arthur Rădulescu, CEO of MerchantPro.
