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Insights from Black Friday and Cyber Monday (BFCM) 2024

The History Behind BFCM

The exact origin of the term Black Friday is believed to be traced back to Philadelphia in the mid-20th century. It initially referred to chaotic traffic and crowded stores on the Friday after Thanksgiving, signalling the start of the holiday shopping season.

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As retailers began seeing increased profitability, the term evolved. Black Friday became associated with the day retailers went from operating “in the red” to turning a profit — going “in the black.” It is now synonymous with aggressive discounts, high foot traffic, and surging eCommerce activity.

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Cyber Monday, on the other hand, is a more recent creation. Coined by the National Retail Federation (NRF) in 2005, Cyber Monday capitalized on the rise of online shopping. It described the Monday after Thanksgiving when consumers returned to work and made purchases online using their office internet — making it a major day for eCommerce sales and digital promotions.

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BFCM Global Trends Year Over Year

Over the years, the distinction between Black Friday and Cyber Monday has blurred. Both days now reflect massive eCommerce and in-store sales activity.

• Cyber Monday typically leads in online sales volume, while Black Friday continues to drive significant in-store and digital traffic.
• Overall, BFCM weekend sales continue to grow, with increasing importance placed on digital strategy and customer acquisition efficiency.

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Key Industry Results from BFCM 2024

BFCM 2024 eCommerce Performance Metrics

• According to the National Retail Federation (NRF), 197 million shoppers participated in the five-day holiday window from Thanksgiving to Cyber Monday. In 2023, this number reached 200.4 million.
• The NRF’s original forecast was 183.4 million shoppers, meaning the 2024 season significantly outperformed expectations.
• Adobe Analytics reported record-setting online holiday spending:
  • Cyber Monday 2024 grew 7.3% year-over-year (YoY)
  • Cyber Week grew 8.2% YoY
  • Black Friday 2024 reached $10.7 billion in online sales (up 9.5% YoY)
  • Cyber Monday online sales hit $13.3 billion (a 5.8% YoY increase)

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TRIBBUTE’s BFCM 2024 Client Performance

• Compared to the industry’s 9.5% YoY growth benchmark, TRIBBUTE’s eCommerce clients saw a 15% increase in associated revenue.
• From November 24 to December 7, TRIBBUTE-managed campaigns reported:
  • 30% YoY increase in conversions
  • 53% YoY increase in revenue
• These outcomes demonstrate high-performing acquisition strategies, maintaining strong ROAS (Return on Ad Spend) while scaling volume.

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What Does This Data Suggest for eCommerce Leaders?

TRIBBUTE’s managed eCommerce investments during BFCM outperformed industry trends by maximizing value (revenue growth) without compromising on investment efficiency.

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Interestingly, when the BFCM analysis window was expanded beyond the core four-day period, TRIBBUTE’s results delivered even stronger year-over-year performance, revealing the importance of longer campaign planning.

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How to Benchmark Your BFCM 2024 Performance

If your business saw revenue growth greater than +9.5% YoY during Black Friday through Cyber Monday (Friday to Monday), you outperformed the broader eCommerce industry in top-line metrics.

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However, bottom-line results are equally important. If you achieved 9.5%+ growth while keeping your marketing investments flat or below that growth rate, you likely had a highly efficient campaign.

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If your revenue growth was below 9.5% with similar or lower investments — and without clear external headwinds — it may be worth reconsidering your BFCM 2025 planning approach.

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What Did TRIBBUTE Do Differently?

Much of TRIBBUTE’s success is rooted in a deeply embedded culture of early planning and strategic alignment with our eCommerce clients. BFCM is not just a five-day sprint. It’s a disciplined, data-driven Q4 growth initiative.

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Stay tuned for Part 2, where we’ll share the strategic frameworks and campaign insights that helped our clients outperform in 2024 — and how you can start building your BFCM 2025 strategy today.

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Ready to Outperform in BFCM 2025?

If you’re wondering “How did TRIBBUTE do it?”, we’re happy to walk you through the process.

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Contact TRIBBUTE today to learn how our tailored eCommerce consulting, digital marketing, and performance optimization services can help you grow with confidence in 2025 and beyond.

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