eCom Unity #12 - This Was Black Week 2024

Deep-Dive | How Did Black Friday 2024 Go?

I am going to be honest with you.

I was a bit concerned going into this Black Friday.

Our customers have continued to grow really well this year but all the media outlets were talking about how difficult of a time eCommerce is having right now.

So I was thinking: Is now the time when we see this reflected in our numbers?

Luckily, the answer to this is a clear no.

Revenue is up 40% YoY for the month of November with marketing spend increasing at a slightly lower rate.

Leading to MER increasing 5-10% to 4.36 for November and 5.34 for BFCM.

New customer acquisition efficiency metrics are pretty flat YoY for November and around 5% better for BFCM with an average CAC of €26.87 and aMER of 2.85.

Now luckily, this didn’t come at the cost of higher discounts. Now there was some shift from discounts via discount codes (that apply to all products) to price reductions (discounting a specific product).

But even that is a positive trend I would say as it allows brands to only give discounts on specific products that are collecting dust in their inventory.

And this data is not driven by specific brands or categories. We have seen growth across all categories.

The biggest growth is within food & beverage brands which are up over 80% YoY. This is probably aided by more and more consumers doing their weekly grocery shopping online, therefore buying groceries online is becoming more mainstream.

The least growth we are seeing within the baby & fashion category which is up around 25% YoY.

In terms of marketing channels, Meta continues to dominate, increasing spend 12% YoY while Google is pretty flat.

TikTok shot up 82% YoY. While still small compared to the other two, we are seeing 8- and 9-figure brands where TikTok now takes up >10% of marketing spend at a competitive efficiency.

In summary, these results are really encouraging for the eCom landscape in Europe.

Granted, there is some bias in our data, as Klar customers tend to grow more dynamically.

But even the growth across our more established brands doing >50m in revenue is at over 30%.

I only scratched the surface with my write-up, so if you want to get even more details, click the link below to access our full BFCM benchmark report.

Upcoming Events | Christmas Cookies & Commerce

This community event was fully booked super quickly - but you can still get on the waitlist.

Next Thursday, December 12, we’ll gather 20 brands in Hamburg for a relaxed, after-BFCM year-end celebration together with Messmer Tee and Super Streusel. We’ll bake and decorate some truly special holiday cookies while hearing from both brands about their challenges in selling food online.

You can join the waitlist here: Christmas Cookies & Commerce Event.

Thank you for reading :)

I am on a mission to help eCom brands build better, more profitable businesses. If you missed any past issues, you can catch up on all of them here.

I have built one 8-figure and one 9-figure eCom brand in the past and with Klar, I work with over 700 eCom brands today.

If you have specific questions you would like me to cover next, just reply to this email.

Have a great week.

Max ✌️

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