11/19/2024 ⏱ 3 minutes
Online sales could grow by 20% during November sales
Early start of sales and various promotions throughout the year oversaturate buyers with discounts. This sets the general trend of November sales - the number of purchases during this season has been falling for the second year.
RetailCRM analysts analyzed more than 22,000 online stores and, together with experts from ЮKassa, told what awaits the online trade market at the end of 2024, in which industries ivory coast phone numbers growth is planned, and for whom sales are not important.
Online store turnover may grow by only 20%
Electronics sales will grow the most — up to 30%
What strategy to choose during sales
Research results
Online store turnover may grow by only 20%
The early start of November sales has been a trend in Russia for several years now. At the same time, additional promotions from various sites and retailers take place throughout the year, for example, Cyber Mondays or Green Day from Sber. This allows buyers not to wait for Black Friday, but to buy with discounts right away. Because of this, the pace of sales is slowing down. According to experts' forecasts, 2024 will be no exception - the growth of online store turnover is expected at a level of only 20% compared to the same period last year.
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During the November sales, experts expect turnover to grow by 20% compared to last year
During the November sales, experts expect turnover to grow by 20% compared to last year
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Electronics sales will grow the most – up to 30%
According to experts, the demand for electronics and home appliances, clothing and footwear, household goods and cosmetics will increase the most. Online stores of electronics and home appliances may show growth of up to 30%, clothing and footwear - up to 20-25%, and stores of household goods and cosmetics - up to 15-20%.
The growth in demand is achieved not only due to Black Friday promotions. For example, on October 16, Citylink launched its Orange Friday sale. As soon as it ends, it will be replaced by Black Friday, which will begin earlier than the official start.
“Data from previous years shows that the number of purchases during the November sales begins to grow a week before the sale itself – by an average of 27%, and sales of promotional items increase by 128% in total,” says Elena Kontorina, head of retail marketing at Citylink.
The clothing and footwear segment began to show growth due to sales back in October. This year, it was affected by the abnormally warm September. Thus, Lamoda held an off-season sale from October 7 to 31. The buyers' baskets most often included seasonal clothing, footwear and accessories, sports collections, premium bags, cosmetics from world brands, and household goods.
"The popularity of these categories is due to the fact that in November, buyers begin to prepare for winter and buy gifts for the New Year. On Black Friday, people often choose products from international brands. We see a high demand for brands such as Hugo Boss, Aeronautica Militare, Pinko and others," notes Irina Maksimova, Director of the Purchasing and Development Department at Fashion Lamoda.
The popularity of services is also growing. According to UKassa, gift certificates with deferred use have become popular. For example, spa treatments, online courses, master classes. The educational portal Netology notes that the audience is waiting for sales, and some users are deliberately postponing the purchase of courses until October-November.
Read on the RetailCRM blog
Why shoppers abandon shopping carts in online stores: a study by RetailCRM and Y.Kassa How a CRM system helps optimize business processes and earn more How to choose a CRM system for your business How segmenting your customer base helps increase salesThe leader in 2023 in terms of revenue during the November sales was the business in the category:
"Clothes and shoes";
"Sports and recreation";
"Furniture";
"Jewelry";
"Cosmetics" .
According to RetailCRM analysts, in 2023, the total number of orders in these categories during Black Friday increased by 1.6 times, and the total business income increased by 1.2 times.
"Over the past two years, we have seen a small but consistent decline in the number of orders and revenue during Black Friday. In 2022, retailers processing orders in RetailCRM earned 1.6 times more from November sales than in regular weeks, and there were 1.8 times more orders. In 2023, revenue fell by 12% compared to the 2022 sales week, and the number of orders fell by a third. Despite this, Black Friday is still a time of "big harvest" for retailers."
Dmitry Borozdin
Dmitry Borozdin
CEO RetailCRM
Despite the overall growth in sales, there is a noticeable trend towards a decline in consumer demand
Despite the overall growth in sales, there is a noticeable trend towards a decline in consumer demand
What strategy to choose during sales period
Retailers can offer niche or premium services to existing customers and gift cards to new ones, according to the automation service YCLIENTS. This will help increase revenue in the short term and create a flow of customers.
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“Subscriptions, certificates, discounts on high-value services, such as annual gym memberships or dental treatment, are in demand,” says Ivan Smelyansky, Marketing Director at YCLIENTS.
However, there are businesses for which large seasonal sales are not relevant. They focus on the uniqueness of the product and content-oriented marketing. For example, this is what the clothing brand A Quick Buck does.
"During sales, we leave our content marketing positions the same, strengthen them and work on our customer base. Sometimes we release off-season boxes to attract the audience's attention. All this together gives a good increase and allows us not to sag during mass sales," says Roman Galimov, Marketing Director at A Quick Buck.