BFCM 2024: Early Promotions

Strategic Shifts in BFCM 2024: What We’re Seeing So Far

With inflation concerns, shifting consumer behavior, and supply chain uncertainties, brands are adapting their strategies by starting Black Friday promotions earlier than ever. This shift is not just to capture sales but to remain competitive in a crowded marketplace.

This report analyzes sitewide discount trends for 2024, comparing them to the same period in 2023. Using data from top promotions of 750 DTC brands, we'll assess the effectiveness of these strategies and their impact on the rest of the BFCM season.

Why Brands Are Launching Promotions Earlier Than Ever

The number of early sitewide promotions has surged more than threefold in 2024. This shift underscores the increasing importance of capturing early holiday shoppers, particularly as consumers shop well before Black Friday.

The 375% increase in early promotions highlights a significant change in how brands are engaging consumers. Early discounts allow brands to test pricing strategies, gauge demand, and refine their offers for the peak holiday season.

From October 15th through November 8th, there have been triple the number of sitewide discounts compared to 2023.

Deciding when to launch promotions is a delicate balancing act with many factors to consider, including customer expectations, shipping times, inventory management, and potential sales cannibalization. Brands must balance capturing early shoppers against the risks of customer fatigue that erodes margins as the season progresses.

The Financial Impact of Early Promotions

By front-loading revenue, brands can better manage cash flow, reinvest in marketing, and ensure smoother operations throughout the season. This strategy also helps mitigate risks associated with supply chain disruptions and last-minute rushes.

During this period in 2024, sitewide promotional sales have already reached $55.4M, compared to $40.4M in 2023.

In 2023, total sales for the full promotional period (ending December 5th) amounted to $301M. Total promotional sales for 2024 could reach $450M by December 5th, reflecting a significant year-over-year increase. However, it remains to be seen whether this early surge will drive overall growth for the season or merely shift sales away from the peak shopping days.

Key Takeaways from BFCM 2024’s Early Promotions

The shift to a multi-week Black Friday event signals a long-term change in the holiday shopping landscape. Early promotions are critical to capturing consumer interest, but sustained success requires brands to be agile, adjusting tactics as new trends and challenges emerge.