What is BFCM? 4 risks of BFCM for all e-commerce businesses

The BFCM (stands for Black Friday Cyber Monday) period is the time when retailers begin their busiest season of the year, bringing more sales, more clients, and a lot of outstanding pre-Christmas spending. Besides the exciting results, your companies may face numerous risks that could cost you a lot of time, effort, and money whether you are a beginner, emerging, or already trendy on Shopify. 

Do you want to know how many vital risky points your businesses have? Clueless about how to address them totally? Don’t worry, Synctrack gives you the most easy-to-use solution for each problem. Each option gives no-nonsense answers to each reach, so scroll the page and begin now!

More people choose to shop online on BFCM, creating exploring sales for businesses

What is BFCM

According to Commerce Caffeine,  Black Friday is the day after Thanksgiving, and Cyber Monday is always the Monday after Black Friday. Considering when it falls on the calendar, it’s the perfect time of year to begin to consider what to get their friends and families for Christmas and other Q4 parties.

BFCM is a mega internet shopping weekend that starts once the dust has settled after Thanksgiving. Having a specific buying opportunity where incredible discounts are on show is, in essence, what this event and the BFCM mean.

Figures never lie

In 2021:

Shopify recorded an all-time high of $6.3 billion in BFCM sales. About 47 million shoppers bought from Shopify-powered stores. 

(Source: Shopify)

And 2022:  

Upcoming 2022 BFCM is expected to reach $8.9 billion with 68% of consumers waiting for BFCM to make purchases.

(Source: Shopify)

However, your largest cohort of new customers of the entire year is the most vulnerable time for your stores as well. 

An intense influx of customers can overwhelm your store. And making sales can be less sweet if your payment account is on hold or even restricted.

With the effort, money, and resources you’re pouring into acquisition this holiday season, getting a safety net in place is a no-brainer. 

That’s why you need to check out if your businesses are safe and how to tackle dangerous risks!

4 Risks and Solutions of BFCM 

Risky Points of BFCM 

That is four literally dangerous risks for every retailer not only on Shopify but also all over eCommerce platforms should bear in mind: 

• Slow Loading Speeds on your store could bring back the bad experience for customers!
• Fraudulent Transactions included Chargeback, Scammers, or Trespasser.
• Delivery Overload: Due to the sudden increase in orders, the shipping time is affected, making customers tired in the waiting process.
• Payment Account On Hold since customers filed formal complaints for a refund, dispute, or chargeback, or your business has a higher-than-normal selling pattern.

How to deal with risks?

Wanna know how to address all the annoying risks above? Check our Ultimate BFCM Health Check Ebook HERE. Our detailed solutions will totally save time and effort for you when selling on BFCM.

After a long time of fighting the Covid epidemic, the world economy will surely recover stably, creating new strong demand for you to explode in revenue in this year’s BFCM sale season. Always be ready for potential situations, and take the best measures to avoid them!