Infobip Forecasts Growth in Online Sales This Black Friday
12.11.2024 10:00:00 CET | Business Wire | Press Release
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.
Ivan Ostojić, Chief Business Officer at Infobip, said: “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.”
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241112077514/en/
Contacts
Marcelo Nahime
Marcelo.nahime@infobip.com
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