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December 24, 2024
Salesforce, Inc., the San Francisco-based software company founded in 1999 by Marc Benioff, a former Oracle executive who took the company public five years later, recently released findings of their analysis of global shopping data aggregated from the company’s Commerce Cloud, Marketing Cloud, and Service Cloud platforms. Salesforce claims that in total, this data covers more than 1.5 billion shoppers worldwide. The Salesforce report highlights five key trends observed during 2024 early holiday shopping.
Trend #1 - More and more consumers are buying online and picking up in store (BOPIS). Convenience is driving the shift, of course, as shoppers seek to avoid wasting time in long retail checkout lines, especially around the holidays. Based on recent trends, Salesforce projected that BOPIS transactions would double in importance to account for 40% of all online orders among retailers offering such service, compared to just 21% of retail transactions during the week following Cyber Monday.
Trend #2 – Increasingly, consumers are using mobile wallets (e.g., Apple Pay, Google Pay and PayPal) and Buy-Now-Pay-Later (BNPL) payment options. During the week following Cyber Monday, usage of mobile wallets worldwide jumped 16 percent compared to 2023. And Emarkerter expects the total number of U.S. shoppers using BNPL options to expand 6.9% in 2024.
Trend #3 – Mobile shopping continues to grow in importance. In fact, Mobile now ranks as the number-one shopping channel worldwide, accounting for 69 percent of all online orders for the period from Nov. 1 through Dec. 14, 2024 according to Salesforce, who predicts that over three-quarters (76 percent) of all online orders placed between the weekend preceding Christmas and Christmas day will be mobile transactions.
Trend #4 – Online retailers are accelerating their use of artificial generative intelligence (AGI) to improve shopper satisfaction and conversion rates by delivering more personalized shopping experiences. Sophisticated algorithms generated by large language modes (LLMs) show promise to provide customers with more relevant product recommendations, making it faster and easier for them to find exactly what they’re looking for.
Trend #5 – Shoppers are returning a higher percentage of online purchases. Salesforce says that between November 1st and December 14th, consumers returned about 8.3% of their online purchases, representing a 6.6% increase from 2023. Salesforce predicts that consumers will return online purchases valued at more than $133 billion this holiday season.
This Ecommerce industry news update is presented by the Butcher Block Co. – an online-only retailer specializing in butcher-block products such as wood countertops, kitchen islands, tables and carts, and cutting boards. The company’s product line also includes such related products as kitchen knives, knife holders and blocks, and floating shelves in live-edge and natural-edge styles. The company is proud to be the leading online seller of John Boos butcher block products.
For more information, please visit Butcher Block Co.
Contact Info:
Name: Kathleen Grodsky
Organization: Butcher Block Co.
Address: 2641 E Cortez St. Phoenix, AZ 85028-1819
Phone: (877) 845-5597