Retailers offering Buy Online Pick Up In Store
(BOPIS) December 15-24 sold 7X more
than those who didn't during this period
Shoppers rethink their purchases with 63%
spike in returns year over year
Retailers leaned into demand and increased
discounts to 21% between Thanksgiving and Christmas
SAN
FRANCISCO, Jan. 9, 2023 /PRNewswire/ -- Salesforce
(NYSE: CRM), the global leader in CRM, today released its 2022
holiday shopping recap, analyzing November and December shopping
data from over 1.5 billion shoppers on retail sites using
Salesforce Customer 360 (including 24 of the top 30 U.S. online
retailers).
Retailers offering Buy Online Pick Up
In Store (BOPIS) December 15-24 sold
7X more than those who didn't
While November's online sales were lower than in
2021 and 2020, Cyber Week deals and Buy Online and Pick Up In Store
(BOPIS) offerings helped retailers drive success in 2022. Across
the 2022 holiday season, consumers spent a total of $1.14 trillion online globally and $270 billion in the U.S.
Top Salesforce 2022 holiday shopping insights
Salesforce data highlights trends that shaped the holiday
season, including:
- Holiday returns spike to record highs: Salesforce
predicted over 1.4 billion orders purchased this holiday season
would be returned. Today's data shows that the number reached 1.39
billion, accounting for 13% of total holiday orders and a 63%
increase in returns YoY. These numbers spiked in the six days after
Christmas, with 16% of orders returned over that week — a 5%
increase over last year.
- Retailers got shoppers' attention with discounts in
the runup to Christmas: After lackluster deals early in the
season, retailers increased discounts. In the end, shoppers saw
better deals than the 2021 holiday season — a 21% average discount
compared to 19% the year prior.
-
- Top discount categories included beauty, skincare, and makeup
with an average discount of 29%.
- General apparel and handbags were the next most discounted
categories at 27%.
- BOPIS brings hope to last minute shoppers — and growth to
retailers: Nearly one out of every five online orders placed
globally this holiday season were via BOPIS. BOPIS adoption by
consumers peaked at 35% of all orders on the Friday before the
Christmas holiday as shoppers retrieved last minute gifts.
-
- When the ground shipping window closed on Dec. 15, U.S. companies that offered BOPIS grew
their revenue nearly 7X faster than those without this fulfillment
option.
- Social media referrals hit an all-time high: Shoppers
are adept at finding the products they want through all forms of
commerce, but social media proved to be a growing favorite in 2022.
Traffic referrals from social media hit an all-time high this
holiday, driving 12% of all mobile traffic (+23% YoY). Belgium, Italy, and the U.S. represented the countries
with the most social media-minded shoppers.
"Retailers closed out the 2022 holiday season with
stronger online sales growth than expected – driven in large part
by U.S. demand, steeper discounts on peak days, and BOPIS options,"
said Rob Garf, VP & GM of
Retail, Salesforce. "Staggering return numbers show
that consumers are still cautious amid economic uncertainty,
however."
"In 2023, retailers must double down on efforts to
put the customer at the center of their business with data-driven
personalization and efficient operations in areas such as
fulfillment, service, and returns."
Salesforce powered the 2022 holiday season
Despite economic uncertainty and changing consumer spending
habits, brands and retailers around the world found success with
Salesforce this holiday season:
- Commerce Cloud powered more than 220 million online
orders while delivering fast, easy, and personalized digital
experiences to shoppers. Digital sales powered by Commerce Cloud
grew more than 6% YoY across the holiday season.
- Einstein served over 10 billion personalized
recommendations in November and December and 9% of all revenue was
influenced by shoppers that engaged with these
recommendations.
- With Service Cloud, agents viewed or worked on more than
30 billion cases (a 20% YoY increase).
Explore further:
- Visit Salesforce's Holiday Shopping HQ for more shopper
data.
- Go here for additional commerce stories, including previous
holiday insights.
- Read an interview with Salesforce's Rob
Garf that explains how retailers can drive success now with
real-time data.
2022 Salesforce Holiday Insights
and Predictions Methodology
Salesforce delivers retail success now with data and insights
from the shopping behavior of consumers around the world. To help
retailers and brands benchmark holiday performance, Salesforce
analyzes aggregated data to produce holiday insights from the
activity of over 1.5 billion global shoppers across more than 64
countries powered by Commerce Cloud, in addition to Marketing Cloud
and Service Cloud data from retailers. Salesforce's
holiday data set includes 24 of the top 30 U.S. online retailers on
the 2021 Digital Commerce 360 list and utilizes publicly
available third-party data sources.
To qualify for inclusion in the analysis set, a digital commerce
site must have transacted throughout the analysis period, in this
case Nov. 1, 2022, through
Dec. 31, 2022, and meet a monthly
minimum visit threshold. Additional data hygiene factors are
applied to ensure consistent metric calculation.
The Salesforce holiday predictions are not indicative of the
operational performance of Salesforce or its reported financial
metrics including GMV growth and comparable customer GMV
growth.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/global-online-sales-top-1-14t-during-2022-holiday-season-salesforce-data-reveals-301716988.html
SOURCE Salesforce