Retail traffic and sales in MEA set to soar during Black Friday
Brands must have a presence on retail partners’ sites early on to influence customer consideration prior to peak conversion dates
Retail traffic and sales in the Middle East and Africa (MEA) are set to peak once again during Black Friday this year.
Data from Criteo has shown that traffic and sales spiked +331% on 23 November last year, with a similar trend expected this year, when Black Friday falls on 29 November.
Furthermore, the daily conversion rate increased by +62% during the same period. Hourly sales and traffic also went up by +443% on Black Friday and +160% on Cyber Monday respectively. The figures also showed that hourly mobile and desktop sales peaked on Black Friday and Cyber Monday.
As the online marketplace prepares for this surge in traffic and sales, Criteo predicts that customers won’t shop from just one retailer or platform. Therefore, brands in the MEA region must maximize Q4 revenue through campaigns that boost visibility on key retail partners’ websites early on. As Black Friday approaches, the competition between brands vying for eyeballs heats up. Therefore, during peak promotion periods, top-of-page presence is the key to success in any category.
The first page of search results on a retailer’s site drives 90% of revenue. In addition, the top 10 products listed on that page account for 25-30% of revenue (Source: https://www.criteo.com/insights/retail-media-holiday-trends-2019/). During these occasions, when people may be in a rush at the time of purchase, it’s critical to not only be on the first page of search results, but to ideally be in the top 10
Many buyers start researching products online early on as they search and look at reviews in real-time while in physical stores. Criteo has found that user traffic on retailer sites begins rising in early November, or even prior, and continues to rise until the festive season. On average, buyers interact with a product in advance of purchase approximately 40-60% of the time. It’s important for brands to be present when this browsing is happening, as consumers are in the consideration phase of the buyer journey.
Criteo has found that 73% of frequent buyers interacted with an ad in advance of key purchase dates, such as Black Friday or Cyber Monday. Opportunistic buyers, defined as those who did not purchase in October, are more likely to wait for key dates to make decisions. As competition heats up and browsing starts to pick up in November, it’s important that brands in the MEA region start to have a strong presence on their retail partners’ sites early on, in order to influence customer consideration