Salesforce (NYSE: CRM), the global leader in CRM, today released its 2020 Holiday Shopping Report, highlighting data and trends that shaped the holiday season and will impact how consumers shop in 2021. Salesforce data shows a 50 percent increase in digital spend over the 2019 shopping season, making it one of the biggest digital holiday shopping seasons to date. Consumers spent $1.1 trillion online worldwide and $236 billion in the U.S., compared to $723 billion worldwide and $165 billion in the U.S. in 2019.
Top Salesforce 2020 Holiday Shopping Insights
Salesforce combined insights from over one billion global shoppers across more than 40 countries powered by Commerce Cloud during the holiday season—between November 1 and December 31, 2020. This season’s top highlights and trends include:
- Digital commerce surged later in the year, despite an earlier start to the holiday season: Although retailers kicked off holiday discounts and promotions earlier in October, the bulk of this year’s digital sales were still generated during traditional shopping holidays. Total Cyber Week digital sales reached $270 billion globally and $60 billion in the U.S., while the first two weeks of December accounted for $181 billion in global sales and $39 billion in the U.S.
- Retailers offering curbside and other pickup options grew almost twice as fast as those that didn’t: With strained shipping systems and consumers prioritizing safety, retailers with curbside, drive-through and in-store pickup options outperformed those without these services. U.S. retailers that offered these options increased digital revenue by 49 percent on average year-over-year, while retailers that didn’t only saw 28 percent average growth year-over-year. Retailers offering curbside, drive-through and in-store pickup options also experienced 54 percent digital revenue growth year-over-year in the five days leading up to Christmas, compared to 34 percent growth for those that didn’t.
- Consumers embraced financing options:With consumers looking to pay for big ticket holiday gifts in installments, buy now, pay later usage saw a year-over-year increase of 109 percent, with the biggest increase taking place the week before Christmas.
- Sporting Goods and Home Goods were the hottest product categories:Revenue for Sporting Goods grew 108 percent compared to the previous year, Home Goods grew 89 percent and Food and Beverage kept pace with 80 percent growth. Active Apparel (35 percent), Footwear (39 percent) and General Apparel (40 percent) experienced the least growth in revenue this holiday season.
- Retailers brace for "returnageddon": Over $330 billion in online purchases are expected to be returned globally—about 30 percent of all purchases made—as a result of this holiday’s ecommerce spike.
