As the holiday shopping season approaches, Black Friday is set to be a pivotal event for retailers and consumers alike, with heightened competition marking this year’s sales period. Drawing insights from Yiqi Wu, the founder and CEO of customer intelligence startup Aimerce, the current landscape for e-commerce indicates an aggressive race among brands to capture consumer attention early. Wu noted that this year's promotional campaigns commenced significantly earlier than in the previous year, stating, “If you look at the times when campaigns were launching last year, it was around the beginning of November. This year, it was late October. It was already Black Friday in October,” according to a report by Fortune.
This shift towards an earlier sales strategy reflects the ongoing trend for retailers to optimise their performance during what is traditionally a critical revenue period. Wu, who launched Aimerce in 2023 and has since worked with various clients including footwear retailer Vivaia and spices company Evermill, is experiencing her first Black Friday as a founder. She confirmed that many brands are exhibiting last-minute adjustments to their campaigns in the face of an intensely competitive environment, as they seek to maximise their sales potential.
Kobie Fuller, a general partner at Upfront Ventures, highlighted the operational necessities for success during this retail frenzy. He emphasised, “If you don’t have the basics checked in terms of how your website operates, and how you can best communicate and know your customer on any given day, you’re kind of done.” In Lee's perspective, the stakes are particularly high this season due to the critical nature of the Black Friday shopping event, which can significantly impact sales trajectories for the year.
The e-commerce sector, which has seen varied fluctuations in venture capital backing, is poised for potential growth as the holiday sales approach. Wu remarked on the opportunity that Black Friday presents not only for established players but also for startups solving immediate issues within the retail space, claiming, “This month has been my fastest-growth month ever since I launched product.”
The anticipation surrounding Black Friday correlates with broader trends in business practices as companies strive to utilise emerging technologies and data to enhance customer experiences and streamline operations. The confluence of these factors suggests that businesses are actively adapting to a rapidly changing retail landscape, which is characterised by consumer demand for efficiency and the expectation of tailored shopping experiences.
Additionally, the ongoing support for the e-commerce industry is reflected through various venture deals announced recently. For instance, eyewa, an eyewear retailer based in Riyadh, secured $100 million in Series C funding, while the Paris-based precision radiology company Raidium raised €16 million ($16.9 million) in seed funding, signalling ongoing investor confidence in innovative retail solutions. Meanwhile, Movopack, based in Milan, focused on sustainable packaging, raised £2 million ($2.5 million) to further its impact within e-commerce.
As preparations for the holiday shopping season continue, retailers are poised to navigate the complexities of the Black Friday frenzy, balanced against the backdrop of advancing technologies and shifting consumer preferences.
Source: Noah Wire Services