Are You Black Friday ready?

It’s that time of the year again.

Even with some predicting Black Friday revenue to fall short of 2022s numbers as the pressures of the cost-of-living crisis bites, consumers in the UK are planning on spending £3bn over the Cyber Weekend.

Data from Shopify has also indicated that 53% of UK shoppers are allocating more money to spend during the weekend than in previous years as they look to get the best deals and the greatest value for money.

So, with the fateful weekend just around the corner, the question many ecommerce retailers should be asking themselves right now is, “Are we actually ready for Black Friday”?

With less than two weeks to go, it’s crucial that ecommerce brands have the ability to make real-time data driven decisions during the weekend, and the rest of Q4.

By now, boards may have approved strategies and budgets, and marketing teams may have promo codes prepared, with creative locked and loaded.

However, if you don’t have the correct tools in place to effectively measure performance, it’s difficult to know whether the decisions you make will help or hinder optimisation over the weekend.

Essentially, if your reporting, data processes or measurement tools are flawed or broken, nothing else matters.

Being able to measure the performance of your marketing strategies in real-time and make adjustments where necessary is crucial over BFCM.

If you can align the performance of your marketing campaigns directly with the performance of your Shopify store, you will be well placed for success.

If not, then you could be making critically flawed decisions on store and marketing, or simply could be left behind.

At Optsi, our biggest recommendation to all Shopify clients as we head into most companies’ peak trade, is to ensure that your marketing strategy is measurable, and any analytics tool you’re using is set up to help you make real-time, data-driven decisions.

Shopify customers trust Optsi with their store and media data to help streamline their reporting and help facilitate faster, more effective data-driven decisions in real-time.

To find out more about how Optsi can help your brand and see if you qualify for a free trial of the platform, please reach out for more information.

References:
https://www.retailgazette.co.uk/blog/2023/10/data-saving-funds-black-friday/
https://www.finder.com/uk/black-friday-statistics