July 3, 2018
Black Friday and Cyber Monday are the two biggest online shopping days of the year for U.S. merchants, and planning for those events is well underway despite record heat in much of the country. For merchants selling in the U.K., however, even though consumers there have joined Americans in their pre-holiday shopping binges, there is rising skepticism that those days really produce the deals retailers say they do, according to data from payments provider Ingenico. Despite the fact that the Wednesday before Thanksgiving in the U.S. through the following Monday were the six busiest shopping days of the year in 2017, 55 percent of U.K. consumers believe that online discounts promoted for Black Friday and Cyber Monday are false.
So, on the day before Independence Day in the U.S., Ingenico offered up seven steps cross-border e-commerce merchants can use to build trust and increase the already high conversion they see during the holidays as they plan for the 2018 end-of-year shopping season.
“Although many consumers may vocalize their concerns on the discounts, they’re not totally convinced and fear of missing out tends to kick in,” said Marc Birkner, Managing Director of Small & Medium Businesses, Ingenico. “We’ve seen that Black Friday checkout abandonment is a third lower than the average day as customers rush to snap up the deals. Dispelling the ‘dodgy discount’ myth will be key to taking Black Friday campaigns up a gear. For retailers, clear and open communication on the discount value needs to be a top priority in 2018.”