BFCM gets more expensive every year, but higher costs don’t always mean worse performance. Our 2025 benchmark data showed paid spend climbing well above normal November levels while CPA improved, reinforcing the need to build demand earlier, grow owned-channel revenue and keep paid media flexible during peak.
Our 2025 BFCM benchmark data showed combined paid media spend rising 61% against the November baseline, while sessions increased 35%. On Cyber Monday, spend peaked at 123% above baseline. The cost of reaching customers is rising faster than traffic. That means brands need to plan for higher acquisition costs rather than trying to avoid them altogether. For 2026, the focus should be on entering BFCM with demand already built, more revenue coming through owned channels and enough budget flexibility to keep investing where performance supports it. The six areas we see as most important are benchmarking peak performance differently, increasing the role of owned channels, prioritising VIP customers, keeping paid media budgets flexible, simplifying the offer and keeping creative clear.
2025 BFCM week vs. November baseline
| Metric | Change |
|---|---|
| Combined paid media spend | +61%Peaked +123% on Cyber Monday |
| CPM | +45% |
| CPC | +22% |
| Sessions | +35% |
| CPA | −14%Improved |
| Meta + Google share of paid spend | ~90% |
| TikTok share of spend / ROAS (YoY) / CPM | 3.66% / +28.42% / −27.5% |
Most brands already expect media to get more expensive during BFCM, but what is easier to underestimate is how quickly those pressures compound.
Across our 2025 BFCM benchmark data, CPM rose 45% against the November baseline, while CPC increased 22%. Sessions increased 35%, while combined spend rose 61%.
Higher cost did not automatically mean worse performance. CPA improved 14% during BFCM week.
That’s an important distinction. BFCM is expensive, but expensive does not necessarily mean inefficient when customer intent is strong enough to justify the higher cost of reaching them.
That’s why applying a simple uplift to normal acquisition costs is too blunt for peak planning. Auction pressure, click costs and conversion demand are all changing at the same time.
The better question is not whether media will cost more. It almost certainly will. The question is whether that additional demand is still paying back at the higher price.
For e-commerce brands, that means having clear profitability and acquisition thresholds before peak begins, rather than trying to work them out while performance is moving in real time.
If paid acquisition becomes more expensive every BFCM, owned channels should become more important every BFCM.
Existing-customer revenue grew 13.6% year on year, compared with 9% growth from new customers. Email revenue increased 15% and SMS increased 25%, with SMS crossing $1B in sales on Black Friday alone.
Customers reached through both email and SMS also placed 11% more orders, added 34% more items to cart and viewed 71% more products than customers reached through a single channel.
CRM should therefore be part of the core BFCM revenue strategy, not something that sits behind paid media. Email and SMS can generate demand before peak auction costs arrive and give brands an earlier read on which products, messages and offers are working.
| Metric | Change |
|---|---|
| Existing-customer revenue (YoY) | +13.6% |
| New-customer revenue (YoY) | +9% |
| Email revenue | +15% |
| SMS revenue | +25%Crossed $1B on Black Friday alone |
Audience sequencing matters just as much as channel mix. Our BFCM playbook prioritises VIP and high-LTV customers first, followed by broader subscriber and early-access audiences before public launch.
This gives loyal customers a clear benefit while also generating revenue earlier in the promotional period. It can also show which products and offers are resonating before the campaign reaches a wider audience.
The role of CRM during BFCM is not simply to increase send volume. It is to generate more revenue from audiences the brand already owns and reduce reliance on paid acquisition during the most expensive part of the year.
BFCM performance does not move evenly across channels. Meta and Google accounted for just over 90% of paid spend, but efficiency moved differently elsewhere.
TikTok represented only 3.66% of spend, while average ROAS improved 28.42% year on year and CPM fell 27.5%.
The takeaway is not that every brand should move more budget into emerging channels such as TikTok. It is that fixed allocations can become restrictive once performance starts to diverge from the original plan.
Our benchmark data can tell us where performance started, but it cannot tell us exactly where this year’s efficiency will appear. Peak plans therefore need enough structure to keep investment disciplined, but enough flexibility to move when a channel is taking more spend without performance deteriorating.
That does not mean reacting to every short-term fluctuation. It means being able to recognise sustained performance quickly enough to act on it. During BFCM, the strongest opportunities can be short-lived, and when demand is high while a channel is still holding efficiency, the window to scale into it may not stay open for long.
As auction pressure rises, creative has to work harder for attention, which makes clarity more valuable.
The strongest offer mechanics are usually simple: one clear discount, one clear message, a defined time limit and a direct path to purchase.
Tiered or conditional promotions can work, but complexity adds friction. If customers need to calculate the value of the offer or work out whether they qualify, conversion becomes harder.
Whatever the promotion is, the value should be clear immediately.
BFCM creative should follow the same principle as the offer. We consistently see simple, offer-led creative cut through during peak: bold text, plain backgrounds and the promotion front and centre.
That does not mean every asset needs to look the same. It means the commercial message should be immediately legible, with the offer, product and next action clear at a glance. Personalisation can then make that message more relevant without making it more complicated, using tools such as dynamic catalogue overlays, audience-specific messaging and creator-led partnership ads to adapt the execution while keeping the core proposition consistent.
The goal during peak is not to produce more creative for the sake of volume. It is to identify what is working, keep enough variation in market to maintain attention, and make sure the offer never gets lost in the execution.
Our 2025 benchmark data showed that the cost of accessing demand is rising faster than traffic, but higher media costs did not automatically reduce efficiency.

That puts more value on the areas brands can control before peak: audience growth, CRM revenue, offer clarity, creative readiness and budget flexibility.
The strongest Black Friday marketing strategies are not built around spending more during the most expensive week of the year. They are built around entering that week in a stronger position.
By the time Black Friday arrives, the audience should be warmer, the offer should be clear, the creative should be ready and the media plan should be flexible enough to follow performance.
That is how Black Friday marketing strategy for 2026 gets won before November.
Black Friday 2026 falls on Friday, 27 November 2026. Thanksgiving in the US is Thursday, 26 November, and Cyber Monday follows on Monday, 30 November.
Based on our 2025 BFCM benchmark data, three trends stand out heading into 2026: paid media costs are rising, owned channels are contributing more revenue and efficiency is becoming less consistent across platforms.
For e-commerce brands, that makes early demand generation, CRM and flexible media planning more important.
Black Friday falls on the Friday after Thanksgiving and was traditionally more closely associated with in-store retail. Cyber Monday follows on the Monday and was originally focused on online shopping.
For most ecommerce brands, they now operate as one extended BFCM period. In our 2025 benchmark data, Cyber Monday produced the highest single-day increase in paid media spend, reaching 123% above the November baseline.
Yes. Starting early gives brands more time to build demand before paid media costs peak.
That can include email and SMS campaigns, waitlists, teaser messaging and early access for VIP and high-LTV customers. The goal is to have an engaged audience before the public promotion begins.
There is no single right length, but a staged approach can work well. Brands can start with VIP or early access, followed by broader subscriber access and then a clear public sale across the core Black Friday to Cyber Monday period.
The public-facing offer should still feel time-bound so there is a clear reason to purchase.
Yes. Our BFCM playbook prioritises VIP and high-LTV customers before broader subscriber audiences and the general public.
This rewards loyalty, creates an earlier revenue opportunity and provides an early read on product and offer performance before the campaign reaches full scale.
Want a Black Friday marketing strategy built on data, not guesswork?
Talk to The Thoughtful Agency about your BFCM 2026 plan – get in touch with our team today.