Rockerbox Recap: Black Friday and Cyber Monday 2024

Black Friday and Cyber Monday (BFCM) 2024 brought significant shifts in consumer behavior and marketing strategies. As the dust settles, marketers are reflecting on a season that posed unique challenges and opportunities. At Rockerbox, we analyzed media spend data, consumer trends, and industry benchmarks to paint a comprehensive picture of this year’s BFCM performance.

Here are the key insights and takeaways from BFCM 2024:

1. Media Spend Trends: A Softer BFCM Overall

BFCM 2024 saw a 10% decrease in total media spend compared to 2023, when normalized against the first week of November. This decline points to a cautious approach by brands, likely in response to shifting consumer confidence and macroeconomic conditions. Despite the lower overall spend, the timeline for budget ramp-ups began earlier than ever, with many brands increasing investment as early as late October.

This trend underscores the importance of early planning and the need to capture consumer interest well before the official holiday shopping weekend. Brands that began their promotions early—often targeting loyal customers with VIP and early-access sales—set the stage for a more impactful BFCM push.

2. Shifts in Media Mix: Search and Affiliate Shine

As consumer shopping habits evolve, so too do the channels marketers rely on:

• Search: Paid search emerged as an improving channel, capturing nearly 30% of total budgets during BFCM 2024—its highest share yet. Indicating brands looked to capture all of the existing demand for their products, in contrast to a focus on prospecting channels that may not capture demand in the short BFCM window.  
• Affiliate: Affiliate marketing continued its steady growth, reflecting a three-percentage-point increase in budget share since 2022. This channel’s effectiveness in capturing deal-hunting shoppers proved invaluable.
• Social and TV: In contrast, paid social saw a decline, falling to 39% of overall budgets after a strong showing in 2023—though still maintaining a higher portion of budget than search. Similarly, TV’s share of spend decreased as brands prioritized channels that deliver more immediate, conversion-focused results.

These shifts highlight the need for brands to stay agile and adapt their media mix based on consumer intent and seasonal behavior.

BFCM spend breakdown below:

3. Challenges in Efficiency Metrics

While BFCM 2024 presented opportunities for targeted campaigns, efficiency metrics like return on ad spend (ROAS) posed challenges:

• Cost Per Acquisition (CPA): Rising CPAs put pressure on profitability, as brands faced higher costs to acquire customers.
• Average Order Value (AOV): A slight dip in AOV further compounded the challenge, as shoppers were more price-conscious and spent less per transaction.
• ROAS: The combination of higher CPAs and lower AOV led to a decline in ROAS, making it crucial for marketers to optimize campaigns with precision.

For many brands, these metrics highlight the importance of balancing promotional aggressiveness with profitability.

4. Earlier Discounts and Strategic Promotions

Half of the brands offering BFCM discounts began their sales ten days before Black Friday, emphasizing early access and exclusive deals for VIP customers. This strategy allowed marketers to:

• Capture early demand from loyal customers.
• Test offers and messaging before the peak shopping days.
• Spread out fulfillment and operational workloads over a longer period.

These insights suggest that “starting early” is no longer a nice-to-have but a necessity for maximizing BFCM impact.

5. Industry Benchmarks: Insights by Category

Rockerbox’s analysis also provided efficiency benchmarks across key verticals:

• Apparel & Accessories: Brands in this category balanced promotional depth with margin preservation, leveraging both search and affiliate channels.
• Cosmetics & Beauty: These brands continued to see strong engagement, often leveraging influencers and early-access campaigns to drive demand.
• Health & Wellness: Efficiency in this category required careful targeting and messaging, as consumers remained selective in their spending.
• Home Goods & Gifts: High-AOV brands faced unique challenges but found success through targeted campaigns and strategic discounting.

These benchmarks offer valuable guidance for brands planning their 2025 BFCM strategies, highlighting the importance of tailoring approaches to category-specific dynamics.

6. Key Takeaways for Future Planning

BFCM 2024 highlighted the importance of:

• Agile Planning: Start early, adapt to real-time data, and focus on channels that align with consumer behavior.
• Efficiency Metrics: Monitor CPA, AOV, and ROAS closely to ensure campaigns deliver both volume and profitability.
• Strategic Media Mix: Invest in channels that match consumer intent, such as search and affiliate, while reevaluating the role of broader awareness channels like TV and social.
• Category-Specific Insights: Leverage industry benchmarks to inform planning and ensure competitive positioning.

Wrapping Up

Despite a challenging season, BFCM 2024 provided valuable lessons for marketers. By analyzing these trends and refining strategies, brands can position themselves for greater success in the years ahead. At Rockerbox, we’re committed to helping marketers navigate these complexities with actionable insights and data-driven solutions.

How did your BFCM strategy perform this year? Share your experiences in the comments or reach out to Rockerbox to explore how we can help you optimize your marketing efforts year-round.