How to use BFCM 2024 data to supercharge your loyalty program for future sales seasons

Black Friday Cyber Monday (BFCM) 2024 has come and gone, but the insights gathered from the event are invaluable for ecommerce brands considering their options for various sales periods next year. It’s clear from this year’s numbers that having a strategic approach to your sales can make all the difference. What’s even more apparent is that brands with active loyalty programs were the big winners this year. Not only did they see significant engagement during the BFCM weekend, but the loyalty-driven actions they nurtured throughout the season will continue to pay dividends into the new year. 

As we discussed in our earlier blog, “7 Things We Already Know About BFCM 2024”, the 2024 peak period was set to be a record-breaking retail event. And it certainly delivered – U.S. consumers alone spent $10.8 billion online on Black Friday – a 10.2% increase from 2023. Globally, Black Friday spending reached a new high of $74.4 billion. 

At LoyaltyLion, we’ve sifted through the numbers to give you key insights into how loyalty programs performed over BFCM 2024. Whether you’re a Shopify brand already using a loyalty program, or considering implementing one for the first time, these findings will help you understand the potential of loyalty for making more of sales periods, and ensuring they drive longer-term growth for your business.

How loyalty programs supercharged BFCM engagement

BFCM 2024 was a huge opportunity for loyalty programs to shine. This year, we observed impressive increases in loyalty program engagement compared to typical weekends of the year. Shoppers were actively seeking more ways to earn points, redeem rewards, and engage with brands they love during the high-energy sales season. Here’s a closer look at the data and why it’s important for you to consider loyalty as part of your strategy.

119% increase in new loyalty members

One of the standout statistics from BFCM 2024 was the 119% increase in new loyalty program members compared to a typical weekend. This surge in sign-ups was seen across all industries, with categories like fashion (+220%), fitness (+101%), jewellery (+131%), food and beverage (+87%) and beauty (+83%) seeing the largest upticks. 

This data clearly shows that sales seasons are prime opportunities for bringing new customers into your loyalty program. When customers are actively shopping and looking for deals, they’re more inclined to sign up for programs that offer them long-term rewards.

As we predicted earlier this year, a growing trend is the need for brands to start seeding their sales campaigns earlier and make their loyalty programs front and center in all communications. If your loyalty program wasn’t live during this period, you may have missed out on an opportunity to turn first-time buyers into repeat customers for the long term.

Shoppers are earning more points

BFCM is a time when shoppers are looking to maximize the value they get from interacting with brands, and loyalty programs capitalize on this by offering multiple ways to earn points. In fact, we saw a 206% increase in points earned over BFCM 2024 compared to an average weekend, with 28% more points earned than in the previous year’s BFCM. The biggest spikes were seen in the fashion, beauty, fitness, and food and beverage categories, with some verticals seeing as much as 431% more points earned than usual. The biggest year-on-year changes seen were in pets (85% more than BCFM 2023), nutrition (+78%), and fitness (+73%). 

What’s the takeaway here? To maximize the potential of BFCM and future sales periods, ensure you have plenty of earning opportunities in place. Consider promoting activities that allow customers to earn points beyond purchases, such as leaving reviews, referring friends, and engaging on social media. The more ways customers can earn, the more motivated they’ll be to engage with your brand and your program before, during and after sales periods.

Increased use of rewards during sales seasons

Another trend we observed during BFCM 2024 was the high volume of rewards redeemed. Customers love using their rewards during big sales events, and it’s clear they were looking for opportunities to cash in during BFCM. In fact, we saw 45% more rewards redeemed compared to a typical weekend, with categories like games and electronics, kids, and home and garden seeing the highest increases.

To maximize reward redemption during sales seasons, brands should ensure they clearly communicate available rewards and make the redemption process easy to follow. A well-structured rewards system can make your customers feel valued, driving even greater loyalty. Free shipping vouchers were among the most popular rewards, with 304% more free shipping rewards claimed than on a typical weekend – 60% more than BCFM 2023 – demonstrating the appeal of non-discount-based rewards.

Free products: Not as popular this year

Interestingly, free product rewards didn’t see the same level of engagement as they have in previous years. We observed an 88% decrease in free product vouchers used and a 78% drop in seamless free product rewards claimed during BFCM. While free product rewards can work both to drive significant interest and give products more exposure at other times of the year, it appears that BFCM shoppers are more focused on using discounts and perks like free shipping than unlocking new products. 

This insight suggests that you might want to focus on deploying free product rewards outside of major sales events to keep customers engaged, but rely on them less during sales seasons.  By introducing new products through loyalty rewards at non-peak times, you can get customers using more of your collections, ensuing that they return to purchase them during the sales.

BFCM is a time for advocacy and referrals

One of the less obvious benefits of BFCM is the potential for advocacy. Customers are more likely to spread the word about your brand when they feel connected to your loyalty program. In fact, we saw a staggering 746% increase in referral activity compared to a typical weekend. Shoppers were more inclined to refer friends and family during BFCM, driven by the added incentive of earning points or rewards.

This is a great time to encourage customers to not only share their shopping experiences but also opt in for long-term communication. We saw a 330% increase in newsletter signups and 128% more social follows during the BFCM period, compared to an average weekend. By promoting the opportunity to earn points for social media follows and newsletter signups during the sales, you can ensure that you stay connected with your audience beyond the peak season and set the stage for future purchases.

Referral marketing is one of the most cost-effective ways to acquire new customers, especially during peak sales seasons. By combining advocacy with communication opt-ins, you’ll build long-lasting relationships with your customers and create a steady stream of new referrals.

Optimizing loyalty for future sales seasons

As we head into 2025 and look ahead to next year’s BFCM, it’s clear that loyalty programs are a key driver of both customer acquisition and retention. To make the most of future sales seasons, here are some actionable tips:

1. Start early: BFCM is no longer just about Black Friday and Cyber Monday. Shoppers are starting earlier and researching more. Build loyalty into your messaging and seed the valuable rewards or exclusive experiences they could benefit from before the sales season begins.
2. Maximize earning opportunities: Provide multiple ways for customers to earn points, not just through purchases but via social media engagement, reviews, and referrals. The more points customers can earn, the more likely they’ll participate in your loyalty program.
3. Make rewards easily accessible: Clearly communicate how and when customers can use their rewards, and highlight the rewards you know to be most popular during sales—like free shipping.
4. Encourage referrals: Use BFCM as an opportunity to increase your referral activities. Make it easy for customers to share their loyalty program experience and invite friends to join.
5. Consider non-discount rewards: While discounts will always be attractive, offering non-discount rewards like free shipping or exclusive access to products can set you apart from competitors.

Conclusion

BFCM isn’t just about offering discounts and clearing out inventory; it’s also about building long-term customer relationships. Brands that implemented loyalty programs saw higher engagement, more sign-ups, and greater customer satisfaction. By using the insights we’ve shared here, you can fine-tune your strategy to build a strong, sustainable loyalty program that drives growth not just during BFCM, but year-round.

Now is the perfect time to set yourself up for success next year. Use these insights to ensure your loyalty program is in top shape for the next big sales season – because the true winners of BFCM 2024 were those who already understood the power of loyalty.

If you want to find out more about our customer loyalty platform and opportunities, you can take a 3-minute tour, or get in touch today.