London, UK: 06 December 2021: It’s official shoppers are back! November 2021 was home to the first Black Friday since the easing of Covid-19 restrictions. Widely anticipated in many international locations: malls, outlets and retailers prepared for the exciting rollout of Black Friday and Cyber Monday sales. Fueled by supply chain concerns and fears that gifts shipped to homes may arrive too late, more holiday shoppers rushed to make in-store purchases than ever before!
Coniq is proud to announce that our clients have seen strong growth on all relevant numbers across our implemented loyalty programs, even in comparison to 2019 with many of our clients seeing impressive results including:
- 21% growth in customer numbers
- 34% more transactions through our loyalty programs
Black Friday weekend also recorded higher Average Transaction Values with a +22% spend per customer for some programs in comparison to 2019. With clients maximising the many benefits of Coniq solution IQ Engage, the results indicate that collecting and utilising data across every customer touchpoint through our system, has been fundamental to retailers in achieving record worthy results and really understanding their target customers.
Coming at no surprise to us – consumers are excited to hit the shops again, with our results proving the most popular categories this year to be beauty, footwear and clothing. Our technology was also able to detect that luxury brand loyalty shoppers increased by a massive 44% in one of our most popular outlets whilst other shoppers also increased by 11%.
Loyalty members are not only increasing shopping habits but are also eager to spend more when engaged with the right program. Today’s shoppers are increasingly looking for a more tailored shopping experience both online and offline, therefore gaining unique insight into customers and enabling clients to act in real-time will enable clients to incentivise positive customer behaviours, resulting in a win-win for both customer and the client. As seen from Coniq Black Friday results, retailers receive higher revenue and customer acquisition, and the customer receives more personalised services and rewards as a result of loyalty.
IQ Engage gives organisations a customer-centric view necessary for efficiently improving loyalty, sales, satisfaction and customer retention. Retailers can achieve a deeper understanding of customers from their demographics, behaviour, product preferences and real-time geo-location whilst sending discounts and rewards that increase spend, particularly beneficial for busy times of year such as Black Friday weekend. We look forward to bigger and better results in 2022.
About Coniq
Coniq is the Total Customer Engagement Company for growth minded shopping malls, outlets, and retail brands. Our platform, Coniq IQ, provides a faster, affordable and simpler way to generate revenue by understanding, anticipating and engaging customers through unique and personalized experiences in real-time across multiple channels. The Coniq platform powers over £1 billion of sales annually for its customers, with more than 20 million consumers shopping at 1,800 brands in 24 countries worldwide.
