This episode provides a data-rich recap of the 2023 "Turkey 5" shopping period, offering ecommerce operators crucial insights into Black Friday and Cyber Monday performance. It highlights the continued dominance of online sales, the strategic shift towards profitability, and key performance indicators to benchmark against, enabling businesses to refine their post-holiday strategies and prepare for future peak seasons.
Key takeaways
E-commerce growth significantly outpaced total retail growth in Q3, emphasizing the ongoing channel shift and the importance of a robust online presence.
Black Friday and Cyber Monday saw substantial year-over-year online sales increases (7.5% and 12.4% respectively), indicating sustained consumer appetite for digital deals during peak events.
Retailers are strategically prioritizing profitability over pure growth, suggesting a need for ecommerce businesses to re-evaluate discounting strategies and focus on margin protection.
European demand is showing a rebound (excluding the UK), presenting potential expansion or strategic focus areas for global ecommerce businesses.
Despite economic concerns, consumers demonstrated robust pricing acceptance during Turkey 5, allowing for strategic pricing flexibility for ecommerce merchants.
EP315 - 2023 Turkey5 Recap with Salesforces Rob Garf Episode 315 is a recap of Turkey5 (The five days from Thanksgiving through Cyber Monday) 2023 with Rob Garf, Vice President and General Manager, Retail at Salesforce. This is Robs' Six time on the show, having previously been on episodes 110, 248, 282, 299, and 313. Jason and Scot discuss the "Turkey 5" with their guest Rob Garf, VP and GM for retail at Salesforce. They analyze data from various sources to provide insights into the holiday shopping season. According to the U.S. Department of Commerce, e-commerce grew 7.75% in Q3, while total retail only grew 2%. Jason emphasizes the need for e-commerce to grow at least 7.7% in Q4 to stay on track. Adobe's data shows that Black Friday sales were up 7.5% and Cyber Monday sales were up 12.4% from the previous year. The speakers also discuss data from BigCommerce, MasterCard, and Salesforce, highlighting growth in online sales on Cyber Monday and Black Friday. Rob Garf adds his observations on retail industry trends, noting an increase in demand and robust pricing. He mentions a rebound in demand in Europe, excluding the UK, and highlights retailers' focus on profitability a
Frequently asked about this episode
What does this episode say about e-commerce trends?
E-commerce growth significantly outpaced total retail growth in Q3, emphasizing the ongoing channel shift and the importance of a robust online presence.
What does this episode say about economic impact?
Black Friday and Cyber Monday saw substantial year-over-year online sales increases (7.5% and 12.4% respectively), indicating sustained consumer appetite for digital deals during peak events.
What does this episode say about holiday sales performance?
Retailers are strategically prioritizing profitability over pure growth, suggesting a need for ecommerce businesses to re-evaluate discounting strategies and focus on margin protection.
What does this episode say about retail strategy?
European demand is showing a rebound (excluding the UK), presenting potential expansion or strategic focus areas for global ecommerce businesses.
What does this episode say about e-commerce trends?
Despite economic concerns, consumers demonstrated robust pricing acceptance during Turkey 5, allowing for strategic pricing flexibility for ecommerce merchants.
