BFCM & Holiday Resources Consumer Behavior Customer Experience 40:09 [Webinar] BFCM Masterclass: Making an Impact With AI Lexis Kambour, Senior eCommerce Manager at Perry Ellis, shares insights on how to upgrade the BFCM shopping experience with AI tools that will help retain customers beyond the weekend retail holiday. In this webinar, you will gain exclusive insights into how Perry Ellis plans to leverage AI for a revolutionary customer experience this Black Friday and Cyber Monday (BFCM). The upcoming retail holiday is typically the most important weekend for brands and is considered a litmus test for the retail industry as a whole. Done right, the weekend can earn your company loyal customers who will keep coming back throughout the year. Tune in to learn how lifestyle brand Perry Ellis determines just the right balance for personalizing the customer journey in order to satisfy shoppers and make the journey memorable. Lexis Kambour, Senior eCommerce Manager at Perry Ellis International, joins the webinar to share her insights on how retailers can upgrade the BFCM shopping experience and retain customers beyond the weekend retail holiday. Providing valuable information on emerging retail technologies are also Avi Zuck, VP of Customer Success at Syte, and Danielle Bailey, Senior Customer Success Manager at Syte. Learning From Experience The years since the pandemic began have been transformative for the retail industry. With customers stuck at home, brands were forced to innovate so that shoppers could be efficiently connected to the best and most relevant products online. Now, we all know that brands can’t be everything for everyone, however – sometimes, less is more. For Perry Ellis, Lexis says that what earned them the most results was personalizing email campaigns with dynamic content. In the past year, the brand has experienced an increase in the conversion rate, largely driven by a more qualified customer base, heightened seasonal demand, and deal-seeking shoppers who wait for Black Friday. Emerging Retail Tech Lexis discusses several subtle AI tools and algorithms that businesses can use to prevent customers from having a negative or overwhelming eCommerce experience. The discussion also covers the potential of using AI in other ways, such as reducing costs and workload, employing video and AI-generated ads, virtual try-ons, and fit predictions. When evaluating tech vendors, the emphasis is on practicality, solving problems, and ensuring seamless integration, as well as having a strong customer success team. Regarding consumer attitudes, Lexis notes a shift toward more openness to innovative shopping experiences, especially among younger generations who are accustomed to adapting to new technologies. Customers are increasingly familiar with the available tools and have higher expectations for enhanced online shopping experiences. Employing Tech During BFCM From a customer experience perspective, the conversation focuses on product discovery through features like cross-shopping, merchandising, product suggestions, and search functionality. Additionally, the value of reducing return rates by leveraging technology to enhance fit confidence and remove barriers to purchase is mentioned, resulting in cost savings and a better overall customer experience. When it comes to choosing tech for BFCM, Lexis emphasizes that testing should ideally be done earlier in the year, as BFCM is not the time to implement significant changes. They prefer tech solutions that are intuitive and require minimal manual intervention, aiming for a “set it and forget it” approach. Retention in the New Year The Perry Ellis plan for retaining customers includes extending promotional efforts into the early part of the year, transitioning back to brand-building marketing, and behind-the-scenes testing for future endeavors. Personalization plays a crucial role in retaining customers by offering engaging content tailored to individual preferences. Lexis also highlights the importance of its CRM team’s focus on loyalty, offering exclusive perks and deals to re-engage customers and lay the groundwork for long-term retention. Predictions for 2024 In anticipation of 2024, Lexis predicts a focus on several key areas of retail tech, including the implementation of AI for SEO, utilizing generative AI for image creation, and enhancing the post-purchase customer journey. Avi, on the other hand, emphasizes the practical applications of generative AI, specifically in optimizing product titles and descriptions. In Summary As the retail landscape continues to evolve, Lexis underscores the significance of adapting to customer preferences, demonstrating that personalization and technology integration play key roles in retaining and attracting customers during BFCM and beyond.