Salesforce Inc (CRM, Financial), the leading AI CRM platform, announced its 2024 Cyber Week results, highlighting a record $314.9 billion in global online sales from November 26 to December 2. U.S. consumers contributed $76 billion to this total. The report emphasized the significant role of mobile devices, which accounted for 70% of online orders, and the influence of AI, which impacted $60 billion in sales. The analysis, based on data from 1.5 billion shoppers and 1.6 trillion page views, showed that consumers strategically delayed purchases to benefit from Cyber Week deals.
Positive Highlights
- Global online sales reached a record $314.9 billion during Cyber Week.
- U.S. consumers contributed $76 billion to the total sales.
- AI influenced $60 billion in sales, enhancing consumer engagement.
- Mobile devices drove 70% of U.S. and global online orders.
- Retailers using AI saw a 2% higher conversion rate.
Negative Highlights
- Global and U.S. discount rates decreased by 1% YoY.
- Western retailers did not offer significant discounts to compete with Chinese marketplaces.
Financial Analyst Perspective
From a financial analyst's viewpoint, Salesforce's report underscores the growing importance of AI and mobile commerce in driving sales. The 6% YoY increase in global sales and 7% in the U.S. indicates robust consumer demand, even with modest discounts. The strategic use of AI by retailers to enhance customer experiences and drive sales conversions is a noteworthy trend that could lead to sustained revenue growth. However, the slight decline in discount rates suggests a cautious approach by retailers in pricing strategies, potentially impacting profit margins.
Market Research Analyst Perspective
As a market research analyst, the data from Salesforce highlights key consumer behavior trends, such as the increasing reliance on mobile devices for shopping and the growing influence of AI in retail. The report suggests that consumers are becoming more comfortable with mobile transactions, as evidenced by the 70% of sales driven by mobile orders. Additionally, the role of social commerce, with 19% of sales generated through platforms like TikTok and Instagram, points to a shift in how consumers discover and purchase products. These insights are crucial for retailers aiming to optimize their digital strategies and capture market share.
Frequently Asked Questions
Q: What was the total global online sales during Cyber Week 2024?
A: The total global online sales reached $314.9 billion.
Q: How much did U.S. consumers contribute to the Cyber Week sales?
A: U.S. consumers contributed $76 billion.
Q: What percentage of online orders were made through mobile devices?
A: Mobile devices accounted for 70% of online orders.
Q: How much sales were influenced by AI during Cyber Week?
A: AI influenced $60 billion in sales.
Q: What was the impact of social commerce on Cyber Week sales?
A: Social commerce strategies generated 19% of Cyber Week sales through platforms like TikTok Shop and Instagram.
Read the original press release here.
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