Why Black Friday is About More than Cut Price Deals
With global sales forecasts for Black Friday exceeding $30 billion for 2019, cyber-week retail strategies need to go much further than discounts, says Founder & CEO, AYM Commerce, Danube Online Co-Founder & CEO, Majed M. Al Tahan.
The rise of the Black/White Friday sales phenomena—an American export— has presented retailers with incredible new opportunities to deliver a bestin-class customer experience and boost sales. However, it also presents challenges because to succeed, retailers have to differentiate themselves and deliver on their promise.
Global sales figures reflect the incredible popularity of White Friday (the GCC equivalent) and “Cyber Monday”. Global CRM company, Salesforce, forecasts that digital sales in the U.S. will reach $7.3 billion in 2019. It also predicts that global White Friday sales will reach $39.6 billion, with an additional $32.2 billion on Cyber Monday—a weekend where the world spends over $70 billion.
While the focus is largely online for many retailers, White Friday provides an opportunity for omnichannel end-to-end retailers like Danube and Danube Online, one of the biggest e-commerce grocery platforms in Saudi Arabia, to create an experience that bridges online with in-store; driving traffic and footfall in both directions.
Achieving this requires a strong online platform that is highly integrated, with automated stock technologies, picker/packer apps and delivery logistics. On the busiest online day of the year, these fundamentals have to be operating like a well-oiled machine, which is why the Danube App is stresstested in advance of White Friday. It also means staffing up in-store and (if necessary) managing expectations by communicating extended delivery times to avoid customer disappointment. This is especially important when it comes to delivery grocery and fresh produce on-time.
Good communication helps retailers to not only manage expectations during times when there are millions of shoppers online—but strong marketing and communications allows us to personalize the event with targeted special offers through the application of algorithms. Customers know they are going to face the prospect of great savings, but through predictive AI technologies we can present them with great savings on items that we know they’ll love. These technologies are making it easier for customers to find what they like, whilst providing new ways for retailers to deliver a best-in-class experience. For many retailers, this has translated into enormous sales over recent years.
How do we achieve those sales? Unified communications, innovations and well managed logistics. Data-backed communications across social media and mobile messaging platforms enable retailers to prepare their customer base well in advance for incredible savings and an integrated omni-channel experience. Inspiring customers in advance and during cyber week can create a buzz and drive sales—particularly online.
For Danube customers, our “Green Friday” or White Friday is not just about getting a good deal. It is an opportunity to experience new app features such as Danube Kitchen, or take part in seasonal campaigns, competitions and referral programs. As an award-winning first mover in the region’s end-to-end e-commerce grocery platform space, Danube has a unique capacity to deliver on its promise of quality of products and service of delivery—even when with many thousands of our customers are logged on for great Green Friday deals.