On Our Minds: What to Know for Black Friday & Cyber Monday

The leaves are changing, the air is getting crisper and the sweaters are coming out. Fall has arrived, and of the many holidays coming down the pipeline, there are none more exciting than the two biggest days for marketers: Black Friday and Cyber Monday. Whether shows want to clean up inventory in early December, sell out the week between Christmas and New Year’s, or drive buyers into January and February, these discounts and offers can do a lot of heavy lifting. Buying habits have changed though in recent years, and YouGov recently released their US Black Friday Cyber Monday 2024 Report exploring consumer preferences. Here are a few takeaways aimed at making Broadway shows stand out in a crowded landscape:

Shoppers are more tentative to spend. 27% of shoppers indicated that they would spend less than last year on Black Friday/Cyber Monday purchases, with only 9% saying they’d spend more this year. With much of this stemming from economic uncertainty, major discounts and offers may not see the returns they have in the past. Keeping these offers targeted and prices competitive will be imperative for success.

Black Friday & Cyber Monday are global events. Though most Broadway marketers focus on the New York area to promote holiday deals, intent to purchase on these days is high around the world. The US only ranks 8th in shopping intent for Black Friday behind countries like Australia, Canada and the United Arab Emirates. Expanding to reach international buyers with inbound traveler targeting can help drive those travel planners to buy before they arrive.

Social Media is key. While online sites and advertisements are where most Black Friday & Cyber Monday buyers hear about sales, content on Instagram, TikTok and other channels drive awareness for 44% of younger shoppers. Social content allows users to share ideas for gifts to give and allows potential buyers to come back to the offer if they’re not quite ready to buy.?

Most importantly, planning ahead and being nimble will drive success. It’s hard for Broadway to compete with major retailers, but with smart targeting and messaging, there are sales to be found. After all, the gift of a shared experience is what the holidays are all about.

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