Global ecommerce market expected to see a 4% expansion during the holiday season, according to Salesforce prediction.
The Salesforce holiday report for 2022 has shed light on some intriguing trends shaping the upcoming shopping season. Here's a summary of the key findings.
Consumer Spending Patterns
Contrary to popular belief, Black Friday is seeing less in-store spending compared to the Saturday and Sunday following the event, according to the Salesforce holiday report. This shift indicates a growing preference for weekend shopping.
The Rise of AI in Retail
Amazon has announced that optimising product listings, offers, and messages for 'mature generative AI search experiences' will be a crucial strategy for brands and retailers. This sentiment is echoed by Salesforce, who highlight the ability to optimise sites for emerging AI search experiences as a vital strategy.
The report also reveals a significant increase in the use of AI assistants like ChatGPT and Gemini for purchasing decisions. In fact, 20% of U.S. shoppers have used AI during their buying journey over the past six months, according to Salesforce consumer surveys and research.
AI in Stores
The majority of AI users (57%) utilise AI search while in stores, and 87% trust AI recommendations. This suggests a growing reliance on AI for product discovery and decision-making, both online and in physical stores.
Sustainability and Secondhand Sales
A growing consumer preference for saving money and sustainability will drive $64 billion in secondhand sales during the holiday season, according to the Salesforce holiday report. This trend reflects a shift towards more environmentally-friendly shopping habits.
Global Ecommerce Sales Forecast
Salesforce has released a holiday forecast predicting a global ecommerce sales increase of 4% in November and December, reaching $1.25 trillion. AI and agents are expected to drive 21% of all holiday orders globally, resulting in $263 billion in sales.
The 2025 Holiday Season Theme
Looking ahead, the theme for the 2025 holiday season is expected to be 'discovery', as retailers and shoppers grapple with new AI methods for product discovery and deal-finding.
Physical Store Spending
Despite the rise of online shopping, most spending during the holiday season is expected to occur in physical stores, especially for Gen Z shoppers, according to the Salesforce holiday report. For every $1 a Gen Z shopper spends online, they are projected to spend $3 in a brick-and-mortar store.
Giving Previously Owned Items as Gifts
46% of shoppers plan to give a previously owned item as a gift during the holiday season, demonstrating a growing appreciation for sustainability and secondhand shopping.
Optimising for AI Search
According to Caila Schwartz, Director of Strategy and Consumer Insights at Salesforce, optimising for AI search is the number one topic on retailers' minds. This underscores the importance of adapting to the changing landscape of consumer behaviour and AI usage.
High Conversion Rates from AI Channels
AI channels have high conversion rates, with conversion rates from AI channels being 700% higher than social media traffic and 200% higher than traditional search in the first half of the year. This suggests that retailers stand to benefit significantly from investing in AI optimisation.
In conclusion, the Salesforce holiday report provides valuable insights into the shifts in consumer behaviour and the growing role of AI in retail. As we approach the holiday season, it's clear that retailers and shoppers alike will need to adapt to these trends to ensure a successful shopping experience.
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