In This Article:
Promotional messaging surged ahead of Black Friday, with Klaviyo (KVYO) sending 18 billion messages over the Black Friday-Cyber Monday weekend. Klaviyo CEO Andrew Bialecki joins Catalysts to discuss the holiday shopping trends seen so far.
Bialecki highlights that "it was a great start to the holiday season," noting a key trend where consumers preferred shopping with familiar brands. Specifically, half of the purchases were from brands consumers "already have relationships with," and Klaviyo-promoted brands generating $3 billion in revenue from their messaging campaigns.
Regarding discounting strategies, Bialecki observes that consumers weren't simply gravitating toward the deepest discounts. Instead, shoppers were strategic, waiting for specific items to go on sale. Discounts in the 10 to 20% range attracted the most consumer purchases.
On the business side, personalized messaging took center stage this year. Many brands leveraged AI to gain deeper consumer insights. "We see that as a big sign that personalization really matters. Increasingly, folks are going to rely on AI tools to match up to consumer preferences," he tells Yahoo Finance.
Related Videos
"The story for brands is really about being where consumers are," Bialecki emphasizes, pointing to the rising importance of social media, email marketing, and text messaging. Bialecki notes brands utilizing various marketing tools generated 20% more revenue over the weekend.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Angel Smith