Black Friday Sales are just around the corner, so B&T has been lucky enough to snag some tech experts to weigh in on what is expected to be the biggest online shopping day of the year.
Kate Musgrove, managing director of APAC for Bazaarvoice, said: “With Black Friday being the biggest shopping day of the year for retailers and brands alike, most consumers are seeking out multiple touchpoints before and when making a purchase decision.
“Particularly this year, people are even more conscious of spending due to inflation and the current ever-going major data breaches. In saying this, the importance of optimising a buyer’s shopping experience in this key retail time is crucial to ensure every avenue and procedure is seamless for shoppers whenever they end up making a purchase.
“It takes more than a good product to stand out in today’s market, where the appetite for Black Friday itself continues to grow year-on-year – this is where authentic content and reviews come into play. Often underestimated, the potency of a consumer’s voice, whether it’s leaving negative or positive feedback – captures firsthand the true experience of the shopper.
“Providing consumers with an authentic shopping experience that utilises the voice of fellow shoppers will be a key deciding factor as they look to purchase this Black Friday – in fact, our research has shown that 86% said they would avoid using a brand again after losing trust in it.”
David Marsh, a principal industry consultant for Australia at Endava told B&T, “As the retail industry continues to digitally transform, data has been positioned as the key to unlocking value and growth, especially when developing marketing approaches.
“NAB’s online retail sales index shows Australians spent $54.9 billion on online retail in the 12 months to August 22, 9.4% higher than the 12 months to August 21.
“Whilst at first glance the numbers suggest continued growth in online retail, a closer look at the figures suggests many consumers still have an affiliation for shopping in-store where they feel safe doing so, with lower covid cases reflected in a contraction in online sales towards the end of the reporting period.
“The data highlights how unified commerce, linked to inventory and CRM data can generate important insights that enable marketing teams to create a compelling brand narrative that is relevant across all customer touchpoints, delivering a tailored, personalised experience which strengthens brand loyalty”.
Richard Gerdis, VP and general manager, of APJ at LogicMonitor, said: “As inflation hits consumers and prices continue to rise, consumers will be thinking long and hard about their purchases during Black Friday.
“Competition for sales will be fierce, and any retailers that don’t deliver a seamless online shopping experience will risk losing out. Retailers will need a full view of all systems and areas of their tech stack to stay a step ahead and ensure their online store, order management systems, and warehouse management systems are primed and ready for the influx of shoppers.
“Using technology to monitor systems to avoid downtime within the online marketplace will be key to staying competitive. Similarly, utilising Artificial Intelligence for IT Operations (AIOps) and analysing trends in demand is key to ensuring you have the right stock in place to fulfil customer demands.
“During peak retail periods, embracing technology that provides observability across a business as well as AIOps during peak retail periods will enable businesses to maximise output and productivity when it’s needed most.”