3 Salesforce Predictions for Holiday Shopping Season 2022
The holiday Shopping season 2022 is yet to begin. But retailers have already started prepping up for the upcoming sales event.
As the eCommerce giant, Amazon, hosts Prime Day on July 12 and 13, 2022, retailers are waiting to see how the holiday season sale will shape up by taking cues from Prime Day sales.
Also, the back-to-school shopping will indicate holiday how holiday shopping will play out this year.
As the world is still grappling with inflation, price hikes, and shortages in demand and supply, businesses are speculating how much impact these current market trends will make this holiday shopping season.
So, the leading CRM giant, Salesforce, has made predictions for the upcoming shopping season based on its State of the Connected Customer Report.
So, have a look at three major predictions of Salesforce to anticipate how current trends will shape the holiday shopping season in 2022.
According to Salesforce, ‘Shoppers will buy early this tear to avoid price hikes.
We saw the trend of early shopping last year too. But this year, shoppers will resort to buying even earlier.
Over the last two years, People shopped early due to supply chain and on-time delivery issues.
But this year, it is driven entirely by rising inflation.
This means Christmas comes early this year jeopardizing Black Friday sales as 42% of more global shoppers and 37% more in the U.S. are planning to start buying gifts earlier as a way to get better deals.
Prediction 2: Value will precede Loyalty
In another prediction, Salesforce predicts “ Value is expected to trump loyalty and convenience this holiday season”
In the last two years, shoppers’ loyalty shifted to convenience and safety as consumers demanded a frictionless experience then, and customers’ loyalty will shift this year again.
In 2022, customers are going to be critical about pricing and value and would not mind going anywhere else, if they do not get their desired goods at the prices they want.
This means that 2.5 billion shoppers can ditch their preferred brand over low-priced competitors.
Also, Shoppers can gravitate toward other brands that offer more sustainable options.
Prediction 3: Preference for NFTs as gifts
As per Salesforce prediction, ‘Shoppers will invest in NFTs as holiday gifts to their loved ones’.
Non Fungible Tokens (NFTs) are virtual assets that are stored in Block Chain Technology, and 46%of shoppers are inclined to buy this digital asset as gifts this year.
Salesforce predicts that about half a million NFTs are estimated to be bought between November and December, driving a market value of $54 million.