We recently held a webinar on personalization in the travel industry with guest speakers Brendan Witcher from Forrester and David Galovic, VP Corporate Communications, Marketing and Brand (Digital) at Emirates. Emirates have been on their personalization journey since October 2014, when they started working with Qubit. In this blog post we’ll outline the process that allowed them to move from simple testing and CRO (conversion rate optimization) to more sophisticated personalization at scale. We’ll also share our framework that you can use to get started on your own personalization journey.
Now that Black Friday and Cyber Monday have passed, we want to see which learnings retailers can use to inform their strategy for the coming year. At Qubit we analyzed aggregated data from retailers in the UK and US1 to identify patterns and trends that unfolded across the weekend. Read on for an explanation of the three trends you cannot afford to ignore in your 2018 planning. For a quick summary, take a look at the results in the tables below.
This year, Singles Day turned out to be four times bigger than Black Friday and Cyber Monday, with Alibaba Group alone generating 25.3 billion USD in sales – up 40% from last year. We took a look at aggregated data from some of the UK’s largest retailers to see how UK ecommerce benefitted from spend-happy online shoppers in China, and how they may have missed out.
Black Friday is just two months away and the stakes are especially high this year. As retailers put the finishing touches to their peak trading strategies, it’s important to keep in mind that discounts alone aren’t enough to make last year’s customers come back. Instead, customer experience has become the deciding factor to success.
Our research backs this up. We found that customer loyalty is at an all-time low: 84% of consumers would consider switching away from the shops they usually buy from, and 81% would switch to shops that offer a better service1. Retailers who fall behind on customer experience stand to lose out not only on revenue and new customers, but they also risk losing existing customers to the competition.