3 Goldmine Insights to Help You Profit More This Black Friday

When you think of Black Friday, what comes to mind? 

• Insane deals
• Happy customers
• A massive influx of sales

Sure, Black Friday is the best time of year to acquire new customers and make a bunch of sales, but that doesn’t always translate to profit.

It can, though – with the right tools.

‍Last year, 10,000 SamCart creators amassed a staggering $9.7 million in additional free money during Black Friday alone.

So how did they do it? And how can you replicate their success this holiday selling season?

We’ve added 13 groundbreaking insights to our 2023 Creator Profits Report that will illuminate the path to profitability this Black Friday. You can see the report for free here, but keep reading if you want an in-depth analysis of 3 of those 13 data points.

3 insights showing how you can win Black Friday and procure more profit

71% of Black Friday sales come from new customers

A study of our customer data revealed a jaw-dropping fact: 71% of Black Friday orders are from new customers. 

Black Friday is the optimal time to transform your passive followers into active customers. If you haven’t yet hit those email inbox lurkers or those social media followers who occasionally engage with your content with a must-have, can’t-resist offer that makes them finally convert, there’s no better time than Black Friday to do so.

But new customers aren’t your only money makers this Black Friday. Your most profitable prospects aren’t actually prospects at all – but existing customers.

30% of sales come from returning customers, but they spend 41% more

There’s a lot to be gained by catering to your loyalists. The other portion of your Black Friday sales could come from customers who have already purchased from you once, twice, or multiple times over.

While they represent a smaller piece of your overall Black Friday pie, that 30% of returning customers will, on average, spend 41% more than new buyers..

This means they’re looking to spend – and looking to you to offer more that they can buy.

SamCart users made $9.7 million in free money last Black Friday

Expansion Revenue: Heard of it? 

It’s the extra cash you make when customers decide to spend more at checkout, much like Amazon's clever strategy – but for creators like you.

With SamCart's expansion features, creators earned an additional $9.7 million on Black Friday in 2022 in pure profit. 

Black Friday already sees a conversion leap by 29% over the rest of the year. Couple that with SamCart’s expansion tools like order bumps and upsells, and you're looking at a win-win scenario. 

The average order bump on Black Friday? $12. The upsell? $37. Those create a direct boost to your average order value by 7-9% during the Black Friday madness.

Could this be your most profitable Black Friday yet?

Black Friday weekend is not just a sale: It's a strategy, a phenomenon, and a gold mine waiting to be tapped into. Platforms like SamCart not only simplify this process, but amplify your earnings multi-fold – and if you stay tuned, we’re releasing some features that could make this even more a reality.

Stand out, maximize your profits, and turn this event into the most profitable period of your selling year. 

→ See the latest drop of Black Friday data

→ Start your free trial of SamCart and get notified about our newest features guaranteed to make your Black Friday a success.

FAQ

How can I maximize profits on Black Friday using the insights provided?

To maximize profits on Black Friday, leverage the insights by strategically planning your promotions. Focus on high-demand products, create compelling offers, and use urgency to drive sales. Additionally, optimize your website for a seamless shopping experience, ensuring customers can easily find and purchase the deals you're promoting.

Are these insights applicable to businesses of all sizes?

Absolutely! The insights shared are versatile and can be tailored to suit businesses of all sizes. Whether you're a small online store or a large e-commerce enterprise, adapting these strategies can help you capitalize on the Black Friday frenzy and boost your profits. The key is to customize the approach based on your specific products and target audience.

Can I implement these insights last-minute, or do I need to plan well in advance?

While planning in advance is ideal, you can still implement these insights last-minute with effective and swift action. Prioritize high-impact changes such as optimizing your website, refining promotions, and enhancing customer communication. Even if time is limited, these insights can make a significant difference in your Black Friday sales.