Today is Black Friday, and it’s going to be huge, says Salesforce. So big that almost half of retailers’ annual revenue will come in this one massive Black Friday, and Cyber Monday weekend.
This week has been billed as the biggest digital week ever, with 40% of the entire shopping season’s revenue made in the first week of the season. Mobile will drive 68% of the season’s traffic, edging out computers for the top device.
Salesforce sees a ton of shopping data, because the company manages marketing and sales for giant brands with more than 500 million global shoppers. Forbes interviewed Salesforce Head of Consumer Insights Rick Kenney for his take on the coming retail extravaganza.
Forbes: Something that’s new in the last few years is how much AI is driving ecommerce and m-commerce. What role does it play, and what advantages is AI providing? Can you quantify that?
Kenney: Over the last year, we’ve seen shoppers come to appreciate the value of AI in their overall shopping experience. AI-powered product recommendations have had a massive impact and are driving 37% of all revenue.
But the real step-function value of AI is just landing now — searching by images helps accelerate the connection between a shopper’s desire and a retailer’s product catalog, and AI-infused chatbots allow for faster resolution of basic requests like ‘Where is My Order’ and allow retailers to redeploy one of their most valuable assets – the customer service team – towards more nuanced and valuable service inquires
To read the interview in full, click here