Welcome to the first formal edition of our newsletter, Source(De)Coded. We're excited, after 6+ years, to do a better job of staying in touch and what better way to do that than provide you with some interesting tidbits from the week that was. We'll focus on what's developing in technology, marketing, and PR, along with our thoughts on how it might impact YOU. This week, we've focused on the data and trends coming out of Black Friday and Cyber Monday, Sam's Club's approach to holiday ads, and how Shopify stole the BFCM show and the resurgence of Buy Now, Pay Later. 

Make no mistake, this is (and likely forever will be) a work in progress. Pretty pretty please tell us what you like or dislike so we can make it more useful to you. 

Don't get too excited, but the next edition will have a full review of the towel warmer the Mondshein's scored on Black Friday 😁 

Keep an eye on the future: Winners and losers of Black Friday 2023

TL;DR: According to Adobe Analytics, consumers spent a record $9.8 billion just on Black Friday, up 7.5% from last year. Of that amount, $5.3 billion of all online sales on Black Friday were from smartphones. Consumers have been obsessed with getting a good deal and the best value this year. Adobe predicts they’ll continue to spend even more this year, with Christmas falling on a Monday.

Takeaway: It’s easy to get caught up in the chaos of these big spending holidays, but there’s still a lot of time ahead of us. Keep in mind, even if you’re not in eCommerce or retail, the end-of-year is approaching as well. This next month brings a lot of spending in both B2B and B2C areas. So, keep an eye on the metrics to inform your strategy, continue to reassess your campaigns, and remember that it’s not over until it’s over.

Consider:

• Take a moment to pause and reflect on your holiday campaign so far. Is your campaign resonating with audiences the way you hoped it would?

• Knowing what you know now, what small tweaks could you make to your messaging, designs, or content to make your campaign even better in the weeks ahead?

Rewriting an old narrative: Cyber Monday sales driven by ‘Buy Now, Pay Later’

TL;DR: Delving into more details on the previously mentioned Adobe report, the rise in BFCM sales is strongly being driven by “Buy Now Pay Later” (BNPL) options in the midst of high inflation for American shoppers. The flexible spending option, led by services like Afterpay or Klarna, was expected to account for $782 million in online spending, up 18.8% from a year ago. The services allow shoppers to pay in weekly or monthly installments, differing from credit cards in that they’re considered as “interest-free loans.”

Takeaway: Finding money for holiday shopping has been a constant stress for consumers, especially during particularly challenging economic times. BNPL options jumped on the opportunity to fix what credit cards once aspired to: helping consumers make purchases that they otherwise wouldn’t be able to. BNPL even improved on this, depending on how you look at it, by removing the barrier of credit and interest from shoppers’ concerns. Now they’re driving $7.3 billion in online spending just in November alone. Sometimes all it takes is tweaking the old-school narrative slightly to achieve new-school success.

Consider:

• Try out this branding exercise with your team: strip your product down to the bare bones and consider what the traditional old school version looks like. What branding is typically associated with your product? What does the old school branding look like? How is it messaged?

• Take everything wrong and make it right. What branding works? What doesn’t? Your products may be the same, but how you tell your story can make all the difference.

Don’t just focus on product sales: Shopify’s stock charges up after an ‘epic’ Black Friday

TL;DR: Shares of Shopify stock shot up toward a 20-month high after a record-breaking Black Friday for its merchants. The marketplace company closed on Monday at +4.89%, with similar companies like Buy Now Pay Later company Affirm closing at +11.97%.

Takeaway: While all your competitors might be focused on what selling products can do for their revenue, you have the opportunity to go bigger. If you’re a publicly traded company, get inspired by Shopify. It’s not necessarily about getting more customers in as it is about company growth. Of course, getting more customers will bring company growth. But optimizing your product, getting clear on your proposition, and working towards the narrative of a market-leading company can also bring company growth. It all depends on how you approach it.

Consider:

• What would it truly look like to achieve company growth? What does that mean to you?

• Are you looking at the right levers to propel your company forward? Or are you just focusing on the obvious levers?

• What would you do if you pivoted your goals away from pure sales and towards product optimization?

We want to hear from you! Let us know your thoughts on the newsletter and what you want to see at the link here.