Shoppers worldwide are expected to maintain or increase their spending both online and in physical stores during this year’s Black Friday Cyber Monday (BFCM) weekend. According to a Shopify survey of over 2,000 consumers and 1,000 SMBs in the UK, shoppers are specifically seeking out deals and plan to use AI to discover new brands and products. The survey also reveals that consumers are open to switching brands if they can find better deals elsewhere. Deann Evans, Managing Director, EMEA at Shopify, suggests that this BFCM could be a crucial revenue moment for retailers if they embrace the opportunity by offering competitive deals and higher quality products.
Meanwhile, there are just over two weeks left to submit entries for the 2023 RTIH Innovation Awards, which will take place at the Barbican Arts Centre in London. Sponsored by PMC, FreedomPay, CADS, 3D Cloud by Marxent, Goodays, and Vista Technology Support, the awards celebrate global tech innovation in the omnichannel retail world. Entries are judged based on the level of innovation and transformation demonstrated, as well as the sustainability of the results. The awards ceremony, held on November 29th, includes a pre-awards roundtable discussion where retailers, tech suppliers, and advisors can network and discuss current retail challenges and opportunities.
In summary, shoppers worldwide are anticipating the upcoming Black Friday Cyber Monday weekend and expect to maintain or increase their spending. They are specifically seeking deals and plan to leverage AI to discover new brands and products, indicating a willingness to switch brands to get better deals. Retailers have the opportunity to capitalize on this crucial revenue moment by offering competitive deals and high-quality products. Additionally, the deadline to submit entries for the 2023 RTIH Innovation Awards is approaching, which celebrate tech innovation in the retail industry. The awards ceremony includes a roundtable discussion for industry professionals to discuss ongoing challenges and opportunities in the retail sector.
