Black Friday came a week later than usual in 2019, which sent retailers into overdrive – launching into an early “Black Friday week” rather than relying on the traditional Black Friday itself as the kickoff date. Motivated in part by this unusual lateness in the calendar as well as the ongoing uncertainty around US tariff wars with China, which promise to make consumer electronics and toys -- big holiday sellers -- abnormally expensive this year, retailers wanted to get ahead of the challenges posed by offering an earlier, longer and steeper discount period.
Salesforce Commerce Cloud data predictions reveal that 2019 will see at least 13% year-on-year revenue growth and total sales of USD 136 billion between November 1 and December 31 in the US alone. A lot of this is going to happen during the infamous Black Friday – Cyber Monday long weekend, also known as the Cyber Five. It is, after all, no longer a one-day event but a multi-day sales extravaganza in which consumer sales participation is high (up to 70% of consumers plan to get involved in the fun, according to McKinsey research) and growing globally.
Despite a Chinese economic slowdown, ongoing tension between China and the US as the tariff and trade war drags on, and escalating Hong Kong unrest, there’s been no damper on another record-breaking Singles Day. You’d never guess that there was any change to consumer spending power or appetite at all.
Consulting firm Accenture has been discussing the importance of hyper-relevance in e-commerce and across online experiences. What is hyper-relevance? Essentially, it’s argued that we are moving beyond an age of personalization toward a more contextual and individual online (and in this case, shopping) experience. That is, personalization has not always performed well historically, whether because the company in question has the wrong or not enough information about the individual consumer to make personalization truly personal - or because the infrastructure powering sites that employ personalization has failed to deliver when the stakes were high.