BFCM: The Ultimate Guide to ECommerce Sales [2023]

January 3, 2023

bfcm black friday online store

Karlyn McKell

Is your online business ready for the busiest sales week of the year? Black Friday Cyber Monday, referred to in the business as BFCM, is a weeklong holiday shopping extravaganza full of discounts and heavy traffic immediately following the Thanksgiving holiday.

For eCommerce sellers, Black Friday Cyber Monday is a huge revenue opportunity – especially as more shoppers move online. This year, inventory continues to be a big challenge for retailers due to global supply chain disruptions. The good news is that if you have your product in stock, selling it should be easy with the right tools and plan in place.

Keep reading to learn all about BFCM and how to increase sales this holiday shopping period, including how to leverage eCommerce financing to reach your goals.

Black Friday Cyber Monday: Fast Facts

While the origins of Black Friday date back much further, retailers didn’t begin refining strategies with steep discounts and early shopping hours until the 1990s. Cyber Monday followed in 2005, offering an alternative to long lines on holiday weekends: now, consumers could shop for eCommerce deals from the comfort of their own homes or offices.

Today, Black Friday Cyber Monday is bigger than ever before, starts earlier and lasts longer, too. Here are some surprising BFCM facts:

  • Cyber Monday 2022 smashed records with $11.3 billion in online spending, a 5.8% increase over 2021. (Adobe Analytics)
  • Shoppers also set a new record for Black Friday sales, spending $9.12 billion online, a 2.3% increase over last year’s sales. (Adobe Analytics)
  • 196.7 million consumers shopped online and in store during Thanksgiving weekend. (NRF)
  • 87.2 million consumers shopped online on Black Friday, and 77 million shopped online on Cyber Monday. (NRF)
  • Mobile sales increased, accounting for a whopping 55% of online sales on Thanksgiving and 51% of sales during Cyber Week. (Adobe Analytics)
  • 76% of consumers shopped online or in stores during BFCM, exceeding all predictions. This is up from 70% in 2021. (NRF)

Black Friday Cyber Monday Tools and Tips

You’re an 8-figure seller in the making, and BFCM is a huge once-a-year opportunity to help get you there. Close out the year strong with these tools and tips.

1. Focus on lead generation before BFCM begins

Extend your reach this BFCM by capturing as many email leads as possible in the weeks leading up to the event. There are many ways to grow your email sign ups, such as giveaways, loyalty and rewards programs, social media, and more.

Another way to get qualified leads is with an email popup on your site teasing Black Friday deals and asking users to opt-in alerts. To encourage popup engagement, incentivize users with a sign up offer.

2. Offer “early bird” deals to increase conversions

bfcm early bird deals

Just like last year, BFCM will start early and last longer than it did in the past. Many shoppers ran into supply chain disruptions leading up to the holidays in 2021, and are eager to place their orders earlier this year. Decide what early bird deals you’ll offer and begin promoting them as soon as possible.

Take a page from large retailers such as Best Buy and Target and offer holiday price matching throughout the Q4 sales period. This means you’ll refund the difference of items purchased early if the prices drop during BFCM, easing shopper anxiety about purchasing before the deals begin.

3. Feature discounts on your online storefront and pre-launch page

Your customers should be able to find your discounts at every touch point, including your online storefront and pre-launch pages. Advertising future deals in the days and weeks leading up to the event will get your buyers excited. It also puts you a step ahead of the competition.

If you host your store on Shopify, the pre-launch page feature makes it easy to tease deals. The page allows customers to learn more about your BFCM offers and is a lead generation opportunity to capture their contact information. Amazon stores can promote upcoming deals on the online storefront and listing pages.

4. Engage with multichannel influencers

Consumers love feeling like they’ve discovered a product organically, which is why influencers are a great way to widen your reach on multiple platforms. This year, go beyond Instagram influencers and add an emerging platform into the mix.

TikTok is a powerful marketing tool with over 1 billion users worldwide, and statistics show that influencer engagement rates on TikTok outshine those on Instagram – and it’s not close. According to Upfluence, TikTok micro-influencers had an average engagement rate of 17.96% compared to 3.86% on Instagram and 1.63% on Youtube.

5. Send shoppers personalized texts and emails

bfcm personalization

Nearly 3 in 4 customers say they only engage with personalized messaging and 8 in 10 are more likely to purchase from brands that offer personalized experiences. During the holiday shopping season, competition is fierce so standing out is essential.

You can personalize your marketing in a number of ways, including user-based landing pages, text messages, behavior-triggered emails and more. Sales events are also a great time to re-engage casual customers with personalized offers and incentives.

6. Offer free shipping with minimum purchase

Did you know that 49% of shoppers abandon their carts because of extra costs such as shipping? In fact, unexpected costs during checkout are the number one reason consumers will abandon their shopping cart. Prevent this frustration with a free shipping plan in place during BFCM.

If Amazon Prime has taught us anything, it’s that customers love free and fast shipping. If you aren’t an Amazon FBA seller, offering free shipping may mean footing the bill yourself. To offset the cost, include a minimum purchase amount such as “free shipping on purchases of $75 or more.”

7. Use retargeting to convert abandoned customers

Even with free shipping, cart abandonment is bound to happen during the shopping frenzy — and that’s okay. With that said, it’s easier to convert a customer who has already expressed an interest in your product than to replace them with a new customer, which is why a retargeting strategy will help convert more sales on BFCM.

Here are a few ways to retarget customers effectively:

  1. Segment your audiences so you can retarget customers in different sales funnels, and send the top deals to loyal customers who are more likely to convert.
  2. Use social media ads to remind customers about products they viewed but didn’t purchase.
  3. Send an email with an exclusive discount immediately after cart abandonment occurs.

8. Use FOMO marketing tactics when inventory runs low

bfcm fomo

One of the biggest challenges for eCommerce sellers last year was staying in stock. Supply chain disruptions have not let up, and may make it difficult for inventory to last through the holidays, or even BFCM weekend. If you don’t already have a supply chain Growth Plan in place for Q4, it’s important to make the most of the inventory you do have.

FOMO marketing taps into shoppers’ fear of missing out on deals and opportunities. When inventory is low, you can highlight stock levels to let customers know there are only a few items left to purchase. Another idea is to highlight missed opportunities by showing customers similar items that are still available for purchase once an item they viewed has sold out.

9. Optimize your storefront and listings for mobile

Mobile commerce, sometimes called m-commerce, is on the rise. We saw a record number of shoppers turning to their mobile devices during BFCM 2022, and experts expect that number to continue to increase. In fact, m-commerce is predicted to account for 6.5% of sales in the United States in 2023.

That means it’s important for eCommerce sellers to make sure their online stores and listings are ready for mobile shoppers. Double check your store on a mobile device to make sure that it’s user friendly and works properly. If your mobile experience isn’t up to par,  you could lose sales and customers.

Look at your listings on a smartphone too, in order to ensure that important words and descriptions don’t get cut off. Check your images to make sure they show up properly and that buttons are large enough and responsive on touch screens.

This November, use the tips above to get the most out of your increased site traffic. Impress potential customers with smart marketing, good deals, and a store stocked with the inventory they need this holiday season.

If your inventory is at risk of stock outs during BFCM, we’re here to help you make a plan. 8fig offers a free supply chain planning software and can fund your supply chain with our continuous, adaptable capital. Learn more today.

Karlyn McKell

Karlyn McKell

Karlyn is an eCommerce writer and Content Marketing Manager for 8fig. She's on a mission to democratize online retail by empowering small and medium-sized businesses with resources and tools they need to compete in dynamic marketplaces.