For years, Cyber Monday has held the title of the biggest online shopping day, and recent reports like Adobe’s 2024 study confirm this with $13.3 billion in total e-commerce sales, compared to Black Friday’s $10.8 billion.
But here’s where things get interesting: when we narrow the focus to Google Ads-driven sales, the narrative flips. Optmyzr’s analysis of 11,423 accounts found that Black Friday consistently outperforms Cyber Monday in ad-driven conversion value.
Does this mean advertisers may be focused on the wrong day to drive most of their sales? Let’s dig into the findings and see what they mean for marketers.
The data that flips the script
From Optmyzr’s perspective based on a subset of accounts:
- Black Friday 2024 (Nov 29) drove $94.62 million in Google Ads-attributed conversion value, eclipsing Cyber Monday’s $64.07 million.
- The average value per conversion on Black Friday was $85.09, significantly higher than Cyber Monday’s $74.82.
These findings reveal that for advertisers leveraging paid search, Black Friday is the clear leader—not Cyber Monday.
Optmyzr’s study about Black Friday vs. Cyber Monday
Ad Spend | Conversion Value | Value per Conversion | ROAS | ||
2024 | Black Friday | $15,321,664 | $94,624,043 | $85.09 | 617.58% |
Cyber Monday | $14,121,621 | $64,070,399 | $74.82 | 453.70% | |
Ad Spend | Conversion Value | Value per Conversion | ROAS | ||
2023 | Black Friday | $13,990,189 | $101,574,600 | $78.37 | 726.04% |
Cyber Monday | $13,250,633 | $71,587,342 | $69.88 | 540.26% |
This Optmyzr data is as of Dec 7, 2024 for 11,423 accounts that advertised on Google Ads on Black Friday and Cyber Monday this year and last year. Note that conversion values are self-reported by advertisers, and that the 2024 conversion value numbers are likely going to be higher than what is shown here due to conversion delays.
Why Cyber Monday isn’t always the clear winner for ecommerce
So, why does Adobe’s data crown Cyber Monday the overall e-commerce champion, while Optmyzr’s data gives the edge to Black Friday? The answer lies in segmentation and shopping behavior:
1. Broader ecommerce vs. paid search attribution
Adobe tracks all e-commerce sales, regardless of traffic source. Cyber Monday’s strength comes from organic and direct channels like email marketing, bookmarked deals, and returning visitors. Optmyzr focuses specifically on sales attributed to Google Ads, where Black Friday’s urgency and high-ticket deals drive stronger ad-driven performance.
2. The role of urgency in Black Friday ads
Black Friday is a high-advertising day, with retailers flooding paid search with aggressive promotions for big-ticket items. Shoppers are primed to click and convert, leading to higher ad-attributed sales.
3. Cyber Monday’s organic advantage
By the time Cyber Monday arrives, many shoppers have bookmarked deals or received email reminders, reducing reliance on ads. The day’s strength lies in smaller, follow-up purchases driven by organic and direct traffic.
Why should you care
For advertisers, understanding the segmentation between total e-commerce sales and ad-driven performance isn’t just an exercise in analytics—it’s the key to making smarter budget decisions. If you rely on Google Ads to drive your holiday sales, the conventional wisdom that Cyber Monday is the biggest online shopping day might lead you to misallocate resources.
Optmyzr’s data shows that Black Friday drives more value for paid search campaigns, suggesting that ad budgets and strategies should align with the day’s urgency and consumer behavior. Recognizing these nuances enables advertisers to optimize their campaigns for maximum return, standing out in a crowded holiday marketplace.
What you should take away
Advertisers should rethink how they approach Black Friday and Cyber Monday 2025 in their holiday strategies. Here’s how to act on these insights:
1. Double down on Black Friday ads
If you’re running Google Ads, Black Friday offers unparalleled opportunities for high-value conversions. Allocate larger budgets to capture the wave of motivated shoppers and focus on premium products and bundled deals.
2. Leverage Cyber Monday’s organic strength
Cyber Monday remains vital, but its strength lies outside of paid channels. Use retargeting and email campaigns to re-engage shoppers who browsed during Black Friday.
3. Reevaluate attribution models
The segmentation between total sales and ad-attributed sales underscores the importance of understanding your channel performance. A broader e-commerce win for Cyber Monday doesn’t diminish the fact that Black Friday delivers better results for paid search campaigns.
Tailor your campaigns based on data
The holiday shopping narrative has long been dominated by Cyber Monday’s total sales supremacy. But Optmyzr’s data suggests that for advertisers using paid search, Black Friday is the real champion.
This insight challenges conventional wisdom and opens up new possibilities for advertisers looking to make the most of their holiday budgets. By recognizing the strengths of both days and tailoring campaigns accordingly, you can drive performance that outpaces competitors who stick to the old playbook.
And after what you read here, if you think Optmyzr is the tool for you to drive higher performance, sign up for a 14-day free trial today.
Thousands of advertisers — from small agencies to big brands — worldwide use Optmyzr to manage over $5 billion in ad spend every year. Plus, if you want to know how Optmyzr’s various features help you in detail, talk to one of our experts today for a consultation call.
