Mirakl Marketplaces See ~34% Bump in GMV on Black Friday and Cyber Monday 2024, Far Outpacing the Market
Global inflation and supply chain challenges have been difficult on economies and consumers across the world, leading to a largely predicted slow start to the 2024 holiday shopping season.
However, while global eCommerce sales saw modest gains during Black Friday and Cyber Monday, marketplaces powered by the Mirakl Platform saw significantly higher growth.
Mirakl-powered platforms saw global Black Friday GMV climb by 31% and Cyber Monday growth top 35%. Comparatively, Global GMV for Black Friday was about 5% and just 3% for Cyber Monday, according to data provided by Salesforce.
Below are more insights about the kickoff to the holiday shopping season that we’ve pulled from our platform that’s leveraged by more than 450 marketplace and dropship platforms worldwide.
Black Friday 2024 Insights
Black Friday — the day after Thanksgiving in the US — marks the start of the holiday shopping season and is the point at which retailers see (or hope to see) their books shift from “the red” (losses) to “the black” (profits).
If you were relying on Black Friday to see that shift in 2024, you might have been disappointed. Especially if you weren’t leveraging the Mirakl platform.
North America: Elevating the Marketplace Advantage
Mirakl customers in North America saw GMV grow by 32% and order volume climb 28% year-over-year, far outpacing the 7% GMV growth reported for U.S. retailers overall, according to Salesforce data.
Key Drivers: Personal shopping became a dominant trend, with categories like Home Essentials and Electronics taking center stage. Products like Dyson vacuums and blackout curtains were among the top-sellers, reflecting consumers’ focus on practicality and quality.
Brand Performance: Adidas emerged as an iconic brand this season, with 3 of the top 5 bestselling items coming from its collections.
European Regions Shining Bright
Across Europe, Black Friday ushered in 43% GMV growth and a 40% rise in orders across Mirakl-powered marketplaces. These results far outpaced global trends, with a meager 5% GMV growth reported across worldwide eCommerce, according to Salesforce.
France and Belgium:
GMV and Order Growth: GMV rose 40%, and total order volume climbed by over 52% year-over-year, showcasing this region as a major driver of growth.
Consumer Behavior Shift: Despite AOV dropping by 8%, volume gains suggested a shift toward smaller, lower-cost purchases, as inflation continued to influence buying habits.
The DACH Region:
Global Growth Leader: The DACH region led global growth with 61% GMV growth, driven by German retailers, who saw an extraordinary 79% surge in GMV compared to last year.
Average Order Value (AOV) Wins: Buyers from the region bucked the trend of declining AOVs, with a 19% rise in AOV, reflecting a continued focus on premium purchases like gift cards and specialty foods (e.g., luxury chocolates).
Southern Europe
In Southern Europe, Mirakl-powered marketplaces saw GMV increase by 20% indicating a substantial surge for Black Friday. Even more impressive was order volumes jumping more than 25%, underlining strong demand during a shortened holiday shopping season.
Mirakl customers’ performance underlines how the platform has allowed them to capitalize on regional trends, targeted offerings, and agile marketplace operations to achieve outsize growth.
Cyber Monday 2024 Highlights
Cyber Monday is much newer than Black Friday, but it solidified its position as a key pillar of the holiday shopping season in 2024, with Mirakl customers experiencing another day of strong performance compared to the wider market.
North America: Sustaining Momentum
Mirakl-powered platforms in North America sustained impressive growth into Cyber Monday, with GMV rising by 27% and order growth reaching 30% year-over-year — compared to the year prior — even as AOV dipped slightly (-2%).
Changing Consumer Behavior: The convergence of Black Friday and Cyber Monday into a single extended online shopping event has led to consistent performance across the weekend, with fewer distinctions in deals between Friday and Monday.
Europe Outperforms Once Again
France and Belgium:
For Mirakl customers in France and Belgium, Cyber Monday delivered 43% GMV growth and 49% increase in orders, despite a significant 4% decline in AOV, signaling that consumers prioritized volume over high-value purchases.
The DACH Region:
The DACH Advantage: DACH emerged as the global highlight yet again, with 72% GMV growth and a 17% rise in AOV.
Category Growth: Electronics and Food & Beverages categories saw substantial interest, with German buyers increasingly gravitating toward premium goods and tech devices alike.
Southern Europe
Mirakl-powered marketplaces in Southern Europe saw even stronger growth on Cyber Monday — netting a +26% GMV increase. Order Volume grew too, with an increase of 27% despite a slight drop in average order value. AOV was down just 1 percent vs Cyber Monday 2023.
Other Observations from Cyber Week 2024
Beyond Black Friday and Cyber Monday, the broader Cyber Week period illustrates several key trends in global consumer behavior.
Global AOV Stabilization: Global AOV (-0.3%) remained steady despite economic headwinds, while order volumes saw slight declines.
Regional Disparities:
Wider Market
The United States’ AOV ticked up slightly (+0.9%), with orders down (-4%).
Germany led the charge with both upward AOV shifts (+5.9%) and major GMV gains, cementing its prominence in global holiday shopping.
France's muted AOV performance (-4.8%) reflected regional economic challenges but did not impede the overall order growth.
Mirakl Marketplaces
Mirakl-powered marketplaces in the United States saw AOV remain steady (-1%) while total orders grew by more than 29%.
DACH Mirakl Marketplaces showed a strong performance throughout the week, seeing a full 37% rise in total orders and a 17% increase in AOV.
In France, Mirakl-powered Marketplaces bucked the trend of national competitors with a 52% jump in total orders despite similar AOV headwinds (-5%).
3. Black Friday Category Trends: Across regions, Clothing, Electronics, and Home Essentials were consistently among the top-performing categories during Black Friday, underscoring their universal appeal during sales events.
Understanding Mirakl’s Marketplace Success
Why are Mirakl-powered platforms thriving, despite current economic headwinds?
Flexibility and Scale: Marketplaces allow retailers to rapidly add new product categories, increasing choice and attracting new customers.
Optimized Operations: Cutting-edge marketplace tools like Mirakl Connect and Mirakl Ads help retailers efficiently scale inventory and cater to consumer preferences.
Strong Infrastructure: With uptime at 100% and the ability to handle peak order flows (up to 82 orders per second), the Mirakl Platform ensures flawless performance even during the most demanding periods. In fact, during Cyber Week 2024, the Mirakl Platform maintained uptime while handling 3.2 billion API calls (+28% vs 2023) and 41 billion product updates (+21% vs 2023).
Learn more about driving eCommerce growth
Mirakl-powered marketplaces consistently demonstrate how marketplaces are the future of profitable eCommerce—capable of growing at a scale unmatched by traditional models. With strong data from Black Friday and Cyber Monday 2024, Mirakl-powered marketplaces have underlined their market advantage.
Learn more about the key drivers of eCommerce growth by downloading our most recent Marketplace and Dropship Index Report, here.
