Insider partners saw a 36.31% increase in revenue on Black Friday 2020 from last year, showcasing the positive impact of individualized and connected digital experiences for retail brands around the world.
SINGAPORE, Dec. 10, 2020 /PRNewswire/ — Insider, a SaaS company that takes a unique approach to multichannel experience orchestration, is named to CB Insights’ Retail Tech 100. More than 15,000 applications and nominations were reviewed and narrowed down to the 100 most promising B2B retail tech companies by the CB Insights research team.
Insider was recognized in this elite cohort of B2B retail tech innovators for their digital engagement capabilities, business relationships, investment profile, tech novelty, and market potential.
Insider’s Global Black Friday Trends in 2020 Calls for the Need for Brands to Digitize More Than Ever
As offline traffic moved online and shoppers turned to digital channels, every day felt like Black Friday for most retailers in 2020. In the wake of change accelerated by COVID-19, many retailers began rethinking their marketing strategies and how they need to design customer journeys that convert in a fiercely competitive landscape.
Delivering individualized experiences wherever customers are present became more important than ever to fight competition and drive revenue growth.
To gain a deeper understanding of Black Friday last year vs. this year, Insider analyzed consumer behaviors across 800 partners in 25 countries. Globally, there was a 12.28% increase in sessions, a 16.05% increase in conversions, and a 36.31% increase in revenue on Black Friday 2020.
Mobile saw a 71.9% increase in sessions from 2019 to 2020, followed by desktop at 65.3%, and tablet at 27.5%. Mobile also beat out desktop in conversions and average order value.
In APAC, brands with powerful digital customer experiences performed the best across categories, with Kids Fashion, leading in conversion rates, up a whopping 172.97% from 2019. Cosmetics, Fashion Retailers, and Shoes had the best overall performance in the region.
In Europe, supermarket chains led the pack for average order value (AOV). With more people stocking up for the holidays and preparing for the next wave of stay-at-home restrictions, supermarket chains saw a 266.41% jump in AOV. Much like in APAC and globally, Fashion Retailers, Cosmetics, and Shoes saw an uplift in sessions and conversion rates.
“As Black Friday this year coincided with the second wave of COVID-19 we’ve seen a great surge of demand on digital channels which resulted in a 36.3% increase in revenue compared to last year for our partners globally. Retailers will need to increase AI adoption and embrace new channels like WhatsApp Business API and Facebook Messenger to improve their revenue potential during the holiday season and beyond,” said Hande Cilingir, Co-founder & CEO of Hande Cilingir.
“It’s a tremendous honor to be recognized by CB Insights for our multichannel experience and engagement capabilities. We’re committed to bringing the latest channels and technologies backed by AI to push boundaries and drive continued growth for our partners around the world through powerful customer journeys,” Cilingir added.
To access Insider’s global trends for Black Friday by region, industry, and device visit: https://useinsider.com/black-friday-2020/
Insider is a SaaS company with an individualized approach to multichannel experience orchestration. The company recently announced a $32 Million Series C funding round, led by Riverwood Capital and joined by Sequoia, Wamda, and Endeavor Catalyst. Insider was featured in the Gartner Magic Quadrant for Multichannel Marketing Hubs 2020 and became the #1 leader on G2Crowd’s Mobile Marketing Software and Personalization Grids, with a 4.7/5 rating based on 100% user reviews, 15 quarters in a row. CrunchBase ranked Insider’s co-founder and CEO Hande Cilingir as one of the top women CEOs outside of the US.
Insider has 25 offices, including London, Singapore, Tokyo, Seoul, Sydney, Indianapolis, New York, São Paulo, Helsinki, Barcelona, and Amsterdam. For more information, visit www.useinsider.com.
Wai Teng Wong
Country Manager, Singapore