When planning for a big e-commerce event like Black Friday Cyber Monday, carrying out product analysis is a sure bet on how to drive sales in your store based on your niche.
At this time, it is no longer news that BFCM 2022 is happening in less than two months. This means you still have time to prepare and put strategies in place.
Table Of Content
1. Article Brief
2. BFCM Statistics Based On Products
3. Trendy Products To Leverage On For Black Friday Cyber Monday
– Fashion & Beauty
– Gadgets & Electronics
– Pet Products
– Gift Products
– Home and Outdoor Products
For a holiday sales as massive as BFCM and largely anticipated by online shoppers year in and year out, it is wise to plan as a Shopify store owner. The significantly higher revenue for 2021 holiday sales is an indicator that this year might come out better. Although, there are predictions that there might be a decline in global revenue for Black Friday weekend sales.
Well, this might be a turnaround for your store. This can be that time of the year when you record the biggest sales. That is if you can shoot your marketing strategies correctly and position your store to handle the sales coming in for Black Friday Cyber Monday.
Everything even as basic as taking a nap needs planning. Talk more about the biggest sales event of the year. As a Shopify merchant, you need to plan for the tiniest bit of activity.
There is a list of things on the checklist when planning for BFCM. Some of these include keeping your store in good shape in terms of usability, design, and accessibility. As well as marketing strategies that can influence the thousands of on-looking online shoppers to buy from your store which in turn will increase your revenue.
As much as you are planning to take in new customers during this sales season, statistics based on existing customers can aid you in product analysis. This can be done by creating sales campaigns and handling inventory.
With this post, I will be highlighting the category of products that are predicted to be most sought after for Black Friday Cyber Monday 2022.
Post-pandemic sales for the fashion industry improved in 2021 compared to 2020 when there was a decrease in sales due to the less interactive and social activities.
In 2021, sales in the fashion industry increased by 3% while the average order value increased by 12%.
Beauty & Health based products experienced a 9% growth in AOV and a 2% increase in sales. The cause is similar to the fashion industry where COVID-19 had an impact on holiday sales.
Traffic generated on pet-based stores went up by 58%, an AOV growth of 1%, and a conversion rate of 6% in 2020. In 2021, traffic went down by 29% with an increasing AOV of 17%.
Online Shopper behavior while interacting with e-commerce stores in 2021 had an increased bounce rate and a decline in average time spent on site.
The bounce rate went down by 4% while the Average time spent on site decreased by 7%.
Trendy Products To Leverage On For Black Friday Cyber Monday
Here is a highlight of the product niche most in demand during the standard business days in 2022. This can be a basis for your product analysis as you plan for Black Friday 2022.
Fashion and Beauty Products
Fashion and beauty products are natural trends all year round. The e-commerce industry experiences a large chunk of sales when it comes to fashion items.
Fashion products in e-commerce account for 23% of online shopping with about $205 billion in revenue. It is estimated that by 2025 there would be a 46% increase in sales for fashion e-commerce.
Trendy items in the beauty and fashion category include;
2. Makeup products
3. Hair extensions
5. Nail extensions
6. Body suits (shapewear)
8. Scents and perfume
Gadgets & Electronics
This is a fast-growing product niche with promising year-over-year revenue. The e-commerce electronics business is estimated to experience a revenue increase of 10.6% every year till 2030.
Electronic gadgets accounted for $344 billion in revenue for 2021. This is a niche you might want to explore.
As part of the holiday shopping season, most online shoppers purchase electronics to replace the ones they’ve been using all year.
1. Mobile phones
3. Phone Accessories
4. Battery and chargers
7. Lighting and accessories
8. Wearable smart devices like smartwatches, and fitness trackers.
9. Cooking equipment
The shift in the pet industry can be attributed to people not just owning pets but caring for and parenting them. This has resulted in pet items being popular in e-commerce.
Crown & Paw, an e-commerce pet store, tripled its sales conversion during BFCM holiday sales in 2021. The pet industry has experienced growth in revenue up to $261 billion in 2022, a 6.5% increase from 2021.
Items to look out for in the pet industry;
2. Pet calming beds
3. Pet mat
5. Pet apparel
Due to BFCM being a holiday sales season, the most popular gift items are purchased during e-commerce sales events.
Online shoppers shop for gift items they want to share with loved ones during Christmas and New Year celebrations during this period.
The most shopped items during BFCM are gift products with toys and gift cards taking the lead. During Thanksgiving weekend shoppers spent an average of $301 shopping for gift items and other necessities.
Gift product ideas can include;
2. Santa outfits
3. Christmas decor
4. Christmas tree
5. Santa clothing
6. Gift boxes
7. Packaging accessories
Home and Outdoor Products
Products used in decorating homes or offices are usually in high demand during this holiday sale. This is because people tend to start preparing for the Christmas celebration and the festivities that come after.
This niche has a forecast of 4.8% growth between 2021 and 2026 with a market value of $641.4 billion.
1. Curtain drape and accessories
3. Table decor and accessories
5. Carpets and rugs
7. Christmas decor and accessories
Your most popular sellers can be your winning ticket during this year’s Black Friday Cyber Monday holiday sales. As you’re looking out for trendy products, ensure you have product analysis for your existing products as well.