Salesforce: Online Holiday Sales Reach Record $275bn

Posted on 26th Apr 2022

CRM leader Salesforce has released its annual Cyber Week report, investigating shopping trends over the recent holiday period. 

Analysing the shopping data of over one billion shoppers on its Customer 360 platform, the report looks into activity across commerce, marketing and service, and found that globally, online sales totalled $275bn – up 2% compared to the last year. 

The US fared particularly well, with $62bn in sales, up 4% compared to the previous year. Salesforce said the data proved that the move to ecommerce inspired by the ongoing COVID-19 pandemic has not abated – especially so considering a feature of the season was higher prices and lower discounts amid supply chain issues. 

The research showed average selling price was up 5% globally, and 11% in the US, while the average discount was 24%, compared to 32% the previous year. 

The largest single day for shopping was Black Friday, while buy now pay later (BNPL) financing options proved increasingly popular, numbering 8% of all orders. 

Offering consumers choices proved a winning move, with companies offering curbside and in-store pickup options growing their revenue by 50% more over Black Friday than those who did not. 

“While online sales leveled off over Cyber Week compared to the holiday surge we experienced during the pandemic, digital shoppers drove significant sales for the first few weeks of November and maintained the high Cyber Week baseline they established in 2020,” said Rob Garf, VP and GM of Retail, Salesforce. “Consumers entered into this holiday season aware of supply chain bottlenecks and inflation and shopped early and often to smooth out the demand we usually see concentrated over one week.” 
The news comes just as the company released positive Q3 results and appointed Bret Taylor as Co-CEO to serve alongside Marc Benioff. 

“I’m grateful that Marc and our Board have put their faith in me to help lead Salesforce through our next chapter,” said Bret Taylor. 

By: William Smith