NEW YORK—A new study reveals just how quickly payments are switching from in-store to online.
A report from Bluecore shows 64% of digital shoppers were new to retailers this past Black Friday, MartechCube reported.
For the seventh year in a row, Bluecore looked at shoppers’ Black Friday shopping patterns and purchases, across 150 retail brands in seven retail categories: Apparel (51), Footwear (35), Sports & Hobbies (20), Home (12), Jewelry & Accessories (13), Health & Beauty (10) and Department Stores (9).
The result is a comprehensive look at retailers’ 2024 Black Friday performance and how it compares to Black Friday 2023, MartechCube said.
Bluecore analyzed 251 million shopper events on brands’ ecommerce sites, including completed sale transactions and moments that retailers’ were able to transform into purchases. The resulting data was derived from 52 million first-party cookies, 3.7 million orders and $504 million in total sales.
“This year’s data shows significant growth in mobile shoppers, as well as efforts by retailers to get existing shoppers to shop again,” said Jason Grunberg, CMO of Bluecore. “We can see in the numbers that this approach makes more business sense than strategies that solely focus on customer acquisition. For the most part, retailers that prioritized their known shoppers and existing customers were those that saw an increase in order values. Considering the skyrocketing costs of new customer acquisition, retailers who can identify shoppers and turn one-time buyers into repeat customers will ultimately spend less to make more. And now they have 64% more customers they can target with this goal in mind.”