2020 was the Biggest Holiday Season ever for Digital Sales as Consumers spent $1.1 Trillion globally
Salesforce, the global CRM leader, has come up with another interesting study, and this time it is about digital sales in 2020. This study shows the highlights and data trends that shaped the holiday season. Also, how it will impact consumers’ shopping behaviour in 2021.
Salesforce data reveals a 50 percent increase in digital spend over the 2019 shopping season. Also, consumers spent about $1.1 trillion on digital sales worldwide and $236 billion in the U.S. However, In 2019, it was $723 billion worldwide and $165 billion in the U.S.
So, if you are looking forward to knowing more about Salesforce 2020 Holiday Shopping Insights, you are in the right place.
Top Salesforce 2020 Holiday Shopping Insights are:
1. A rise in Digital Commerce:
Digital commerce surged later in the year, even though retailers kicked off promotions and discounts earlier in the year. Most of the digital sales were during the traditional shopping season.
Also, total cyber week digital sales reached $270 billion globally and $60 billion in the U.S. However, in just two weeks of December, it was $181 billion in global sales and $39 billion in the U.S.
2. Consumers loved the financing options
This is one of the reasons that people loved to stop this holiday season. Consumers had several payment options including, easy installments, buy now, pay later. Also, The finance options helped in a year-over-year rise in sales with 109 percent.
3. Household goods: The hottest product category
The retailers saw a rise in sporting goods with 108 percent as compared to 2019. Home Goods grew 89 percent, and Food and Beverage rose with 80 percent growth.
The products that saw the least growth are Active Apparel with 35 percent, Footwear with 39 percent, and General Apparel with 40 percent. One of the major reasons for this low growth is the Lockdown and Work-From-Home norms imposed by the government.
Rob Garf, VP, Industry Strategy for Retail, Salesforce, says, “We expect to see these innovations remain in 2021 with holiday strategies becoming the new standard that consumers expect from their favourite retailers and brands.”
As the pandemic made shoppers switch to the world of eCommerce, Salesforce’s innovations helped retailers double down on digital platforms. From November 1, 2020, to December 31, 2020, Salesforce helped its customers drive more than 204 million orders with the help of Commerce Cloud.
It will be interesting to see how this study further sees a drastic change in the next holiday season and helps retailers generate more revenue with Salesforce. Also, if you are willing to incorporate any Salesforce implementation services into your organization, we are ready to help you. If you want us to schedule a personalized demo for you, you can click here.
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