2020 was the Biggest Holiday Season Ever, with $1.1 Trillion spent on Digital Sales worldwide: Salesforce Study
Did you know that consumers’ spendings reached $1.1 Trillion in 2020’s holiday season? This study by the #1 CRM leader is for every retailer who wants to succeed in digital retail. According to Salesforce, this year would hit several milestones in digital sales as consumers are inclined towards online shopping since the pandemic started.
Salesforce data says that a 50 percent increase in digital sales has been recorded over the 2019 shopping season. Consumers’ spendings crossed a massive $1.1 trillion worldwide and $236 billion in just the U.S. Whereas, In 2019, it was $723 billion worldwide and $165 billion in the U.S.
Let’s dive into Salesforce 2020 Holiday Shopping Insights and prepare your business to meet the future challenges;
Prepare your Shopify store for the increasing digital sales
Did you know that retailers observed a sudden surge in digital commerce during the holiday season? Although the promotions and discounts kicked off earlier in the year, most of the consumers shopped in just two weeks of December.
Also, total digital sales during the cyber week were $270 billion globally and $60 billion in the U.S. But, a major chunk of revenue was generated in just two weeks of December. It was $181 billion worldwide and $39 billion in the U.S.
Consumers need the right financing options
One of the reasons behind the success of 2020’s holiday season digital sales is that consumers did have a variety of options to pay. People loved to shop this season as they did not have just one option to pay. They had multiple options to choose from including, easy installments, buy now, pay later.
Also, these financing options helped to generate a year-over-year rise in sales with 109 percent.
Household: the most sought after 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.
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 favorite retailers and brands.“
The pandemic has made shoppers shift to the world of digital commerce, innovations by Salesforce are continuously helping retailers double down on their performance. From November 1, 2020, to December 31, 2020, Salesforce customers drove more than 204 million orders by using Commerce Cloud.
So, if you are looking forward to preparing your Shopify store for the changing customer needs, you should integrate it with Salesforce. Our connector app Shopify Made Easy helps you easily connect Shopify to Salesforce. It has seamless integration with a real-time data sync feature that would help you do any task easily.
Shopify Made Easy is currently amongst the top 30 Apps on Salesforce AppExchange. It has a 4.9 rating, clearly loved by Shopify store owners. If you want us to schedule a personalized demo for you, you can contact us here. We will be happy to help you.