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Title
Infobip forecasts growth in online sales this Black Friday
Infobip predicts record ‘shopping month’ as discounts spread across November
Conversational customer experiences to boost engagement and drive sales this year
Vodnjan, Croatia, 12 November 2024 – Global communications platform Infobip forecasts more than $10 billion in online sales in the US this Black Friday based on predicted messaging volumes. Infobip expects SMS interactions on its platform on Black Friday to increase by 25% this year, up from 1.3bn in 2023 to nearly 1.7bn. Following the market movement and consumers’ shopping behaviour, the company forecasts Black Friday online sales across the US to increase from $9.8 billion in 2023 to $10.5 billion in November.
Infobip forecasts a 7% increase in Black Friday online sales in 2024, following a similar increase from 2022 to 2023 when sales grew from $9.1 billion to $9.8 billion. As the largest SMS provider in the US and one of the main SMS vendors with a global traffic offering, the company expects global SMS interactions on its platform on Black Friday to be 120% higher than a normal day in November as brands seek sales.
In Europe, based on a survey data, Infobip forecasts that total spend for Black Friday and Cyber Monday will reach €7.425 billion, with Black Friday contributing €4.3 billion and Cyber Monday accounting for €3.125 billion. Infobip also predicts while both the US and Europe show a trend toward more cautious spending, the US is likely to see a higher volume of big-ticket purchases, with 14% of US survey respondents saying they are willing to spend more than $1,000 on Black Friday, compared to only 4 to 8% of respondents in Europe.
Infobip has also identified that the volume of messages is directly correlated to overall market sales during Black Friday & Cyber Monday. According to the company’s latest global messaging trends report, of 473 billion messaging interactions, 137% came from mobile application messaging, whether for marketing, support or commerce purposes.
The firm also expects rich conversational communications channels to increase significantly this year. The firm predicts global Rich Communication Services (RCS) interactions to grow 7.5 times this year. Infobip also forecasts that WhatsApp interactions worldwide will grow by nearly two-thirds.
Black Friday and Cyber Monday shopping events are no longer just about one weekend. Instead, our data shows they are starting earlier and extending further. We now see a ‘shopping month’ as deals are spread across November. Retailers and eCommerce firms hope to attract cost-conscious consumers waiting for the best deals and discounts, driven by economic impacts which makes customers seek for better pricing and offers. We predict that rich messaging – Rich Communication Services (RCS) – will emerge as an essential channel for shoppers following its adoption by Apple. We expect retailers to focus on hyper-personalization to drive a more conversational customer experience and boost sales.”
Ivan Ostojić
Chief Business Officer at Infobip
About Infobip
Infobip is a global cloud communications platform that enables businesses to build connected experiences across all stages of the customer journey. Accessed through a single platform, Infobip’s omnichannel engagement, identity, user authentication and contact centre solutions help businesses and partners overcome the complexity of consumer communications to grow business and increase loyalty. It offers natively built technology with the capacity to reach over seven billion mobile devices and ‘things’ in 6 continents connected to over 9,700+ connections of which 800+ are direct operator connections. Infobip was established in 2006 and is led by its co-founders, CEO Silvio Kutić, Roberto Kutić and Izabel Jelenić.
Recent award wins include:
● Infobip named number one among Established Leaders in RCS Business Messaging in Juniper Research’s RCS Business Messaging Competitor Leaderboard 2024 (Nov 2024)
● Infobip named a Leader in the Gartner® Magic Quadrant™ for Communications Platform as a Service (CPaaS) 2024 for the second year running (June 2024)
● Infobip named to Fast Company’s Annual List of the World’s Most Innovative Companies (March 2024)
● Infobip named a leader in the CPaaS Leaderboard, Juniper Research (March 2024)
● Infobip ranked as number one Communications Platform as a Service (CPaaS) provider, in the inaugural MetriRank CPaaS Report from Metrigy (Dec 2023)
● Infobip named a leader in the CCaaS Leaderboard, Juniper Research (Dec 2023)
● Omdia Ranks Infobip as Leader for the second year running in its CPaaS Universe Report (Nov 2023)
● Infobip named a Leader in the Gartner® Magic Quadrant™ for Communications Platform as a Service (CPaaS) 2023 (Sept 2023)
● Infobip named a leader in the Juniper Customer Data Platform Leaderboard Report (July 2023)
● Infobip named a Leader in the IDC MarketScape: Worldwide Communications Platform-as-a-Service (CPaaS) 2023 Vendor Assessment (May 2023)