Holiday Shopping Stats Shape Future Strategies

Although the holiday season is over, retailers are looking at statistics from the previous holiday shopping season to prepare for the next. Using information gathered by Salesforce, the data shows that retailer decisions should be based mainly on consumer behavior. The following are conclusions retailers are making to help influence next year’s holiday season strategies.

·       Mobile shopping’s rise yields more opportunity for retailers. Salesforce found that 48% of orders were completed using a mobile phone, with 28% of those purchases utilizing a digital wallet payment.

·       Reach customers where they are. If companies can learn to utilize Artificial Intelligence, they can send texts, push notifications and emails to customers to meet a certain need at the moment the customer needs that specific need met.

·       Shipping for free is the new expectation. Salesforce found that during Cyber Week, 80% of online orders shipped free, while the free shipping rate declined to 68% in the weeks following.

Salesforce shows that aside from the major shopping holidays that most retailers target, Cyber Week is a strong shopping target during the holiday season, as revenue that week rose 12%, social traffic rose 34% and that week made up 37% of the entire season’s revenue. (AdWeek, 02.01.19)