Last year, the initial predictions for Black Friday 2022 were largely pessimistic. So much so that the term ‘Bleak Friday’ did the rounds, appearing in several forecaster headlines.
But despite challenging economic conditions, several key ecommerce trends emerged from Black Friday 2022 that paint a more optimistic picture:
The Shopping Spirit Was Alive: Shopify merchants defied the odds by setting a new Black Friday Cyber Monday (BFCM) record with $7.5 billion in sales – a 19% increase from kuwait telegram screening the previous year. During Black Friday last year, Marc Pettican, head of Barclaycard Payments, said: “Despite the rising cost of living, it’s clear there is still an appetite to bag a Black Friday bargain. While shoppers may be tightening their belts overall, some have been holding back on purchases to wait for the sales to start, and others are likely on the hunt for deals for Christmas Gifts.
Average Order Value Went Up. Another positive trend was the middle order value (AOV) increase. According to SaleCycle, the AOV experienced a notable £17.33 increase compared to 2021.
Cart Abandonment Rate Dropped. There was a reduction in the number of baskets created, from 866,435 in 2021 to 618,592 in 2022, and a slight decrease in the cart abandonment rate from 18.14% to 17.54%.