Salesforce Predicts Record $136 Billion for U.S. Online Sales and $768 Billion Worldwide for this Holiday Season
by Tech Mainstream Staff
October 5, 2019
With this holiday season being a shorter selling season, by exactly six days, Salesforce data indicates "U.S. digital commerce revenue growth this holiday season at 13 percent year over year (YOY)." Retailers that offer personalized experiences, click and collect offerings and unbeatable prices, will be highly successful this coming holiday season.
Since Thanksgiving comes early this year, early bird shopping, especially on the Tuesday and Wednesday before Thanksgiving will "drive 19 percent YOY growth in global digital revenue." Voice-enabled devices, messaging platforms and social media will be used to make purchases.
Another technique to alleviate the shortened holiday shopping season is click and collect, otherwise known as “buy online, pick up in-store.” During the five days before Christmas, click and collect shoppers are 48% more active.
Gen Z buyers will help bolster revenue this holiday shopping season. Considered at the “edge” of brand and retailer properties, "one in ten digital purchases occur on emerging digital purchase points like social media, messaging platforms and voice-enabled devices." Gen Zers are 3.5 times more likely than Baby Boomers to embrace these technologies.
Forty-seven percent of shoppers will only buy items on sale this holiday season. Another revenue impetus is offering customers sales or promo codes since these are "the number one factor influencing their holiday purchases." As for the biggest digital discounts, Cyber Monday remains the leader with an average discount rate of 29 percent.