October 27, 2020

Black Friday in numbers: how to get ahead of the over-demand

Black Friday is an iconic event worldwide. November 27th will mean for many the opportunity to access sales and incredible discounts. Even though it is literally on a Friday, this event usually wins the spotlight throughout the whole month of November. When the date approaches, it means a week full of discounts, promotions and rebates that flood both physical and virtual stores.

With consumption skyrocketing, physical and online stores will have to cope with this over-demand. Hot questions are clear: opening hours, discounts, means of payment, availability of products and shiping, among others. As with Cyber Monday or the days before Christmas, high sales peaks demand that companies be prepared to answer the many questions that will come from customers.

Related article: AI Chatbots for Ecommerce: How Can They Help?

A trend that keeps growing

Since its popularization, this phenomenon continues to expand.

According to Black Friday Global, in the United States each person buys an average of 4 products during these dates. This means an incredible 2063% increase in sales. Worldwide, the increase is 663%. The most purchased items are usually clothing, electronic devices (with a strong focus on mobile phones) and shoes.

Specifically, this year online sales grew exponentially. According to Business Insider, Ecommerce sales grew 13% in January, 17% in February, 24% in March, 73% in April, and 80% in May. This will result in $58 billion revenue, up 60.4% from initial forecast of 38.6% growth

When it comes to online sales, it is essential to know how to increase them, generate more leads and achieve online conversions to face this week full of opportunities.

During Black Friday 2018, the day of greatest interest in the offers worldwide was Friday itself,  where a peak of 33.4% was recorded. It was followed by Wednesday and Thursday, where numbers of 11.1% and 20.8% were registered respectively. Monday, Tuesday, Saturday and Sunday closed with numbers below 11%.

How does over-demand affect companies?

One of the logical consequences of these popular dates is the increase in traffic on the websites of shops. Online sales grow in a matter of days, as do customer inquiries and complaints.

According Footwear News, 1 in 10 online purchases are made on emerging channels such as social networks, messaging platforms and voice-enabled devices. Shops that offer more personalized experiences to customers, greater facilities and unbeatable prices will undoubtedly be the big winners of this season.

Related read: Black Friday: How to Offer Better Experiences and Sell More

"In many cases, companies seduce their customers with attractive offers and then fail to give the right response to these and when they want to solve it is too late," says Martin Frascaroli, CEO and founder of Aivo.

Black Friday should also be intelligent and efficient

Aivo‘s customer service solutions will allow you to take full advantage of high demands. According to company data, AgentBot has helped numerous companies when it comes to ecommerce.

General Motors, for example, managed to innovate in the car industry by teaming up with the Aivo’s conversational bot. How? With Chevy, the virtual assistant that allowed them to optimize customer service, increase sales and answer all prospects accurately and in real time.

Falabella, a renowned department store in Latin America, achieved incredible numbers during last year's Hot Sale. From May 13-15, the average daily queries increased by 668%. Even so, Lucia, Falabella’s conversational bot, was able to answer 95.5% of the inquiries received by her clients. Only 4.5% of the consults needed to be transferred to human agents.

This progress has its justification: AgentBot's functionalities are extremely useful to speed up communication with customers.

- Automatic response: it is immediate, fast and efficient. AgentBot will answer frequently asked questions in much less time than a human agent and will reduce the costs of the customer service department.

- Broad availability: it does not matter when you receive a query, our chatbot with AI will solve it 24 hours a day, 7 days a week.

- Omni-channel experience: you can connect AgentBot to a web window or mobile messaging applications. The bot automatically adapts to each digital channel and offers the same quality attention.

- Empathy: a close relationship with the client is essential to create lasting bonds. Long-term memory, the recognition of regionalisms and emojis and the understanding of natural language make AgentBot an expert in fluid conversations.

"The virtual assistants that companies incorporate into their customer service department should be characterized by a close and personalized service, as if they were human teams," says Martín.

Black Friday is only one click away

Are you ready for Black Friday? Our Marketplace is.

Thanks to Marketplace, you can access content packages that will help you satisfy your customers' doubts without delay.They are specially designed to enrich the personality of your virtual assistant and add questions in tune with special events, such as Black Friday and Cyber ​​Monday. They already include ways to ask, so you just have to focus on creating amazing answers.

If you already have AgentBot, you can import them from the platform. If you still don't, start today! Get in touch with one of our reps and skyrocket your Black Friday sales!

Want more tips on how to boost your business? Download our E-Commerce e-book to generate more leads and online conversions.

Originally published on November 3rd, 2019.

Latest update on October 27th, 2020.

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