Pre-Cyber Week Sales Up 2% in Canada and AI Searches Surge as Savvy Shoppers Await Cyber Week Deals: Salesforce

As we lead up to Cyber Week 2023, Salesforce has released its latest digital commerce data and predictions for the period.

Here are some of the headlines:

  • According to Salesforce ecommerce data, early (Oct. 1–Nov.14) online holiday sales are up 2% year over year (YoY) in Canada. After a couple of years of experiencing inflation and other trends, consumers are shopping cautiously and making their own price comparisons.
  • Canadian online traffic declines ahead of Cyber Week: Traffic dipped 3%, potentially due to shoppers waiting to maximize discounts or feeling the pinch of inflation, compared to the 5% growth seen globally YoY..
  • Holiday shoppers walk before they run: Consumers browsed but held off on buying in the early holiday season. Product views grew by 1% in Canada compared to last year, but the low increase in sales growth (2%) indicates that consumers are waiting for the biggest and best deals of the season.

As a result, Salesforce predicts that:

  • A slow start to holiday shopping will drive a high-volume Cyber Week: Similar to 2022, Cyber Week is anticipated to account for over 25% of all holiday purchases this year. While holiday shopping was spread out through all of November in 2020 and 2021, this year’s more price-conscious consumers are waiting to see what deals come their way on Black Friday and Cyber Monday
  • Discount rates are expected to be attractive: As consumers wait for the biggest and best deals of the season, global discounts are likely to reach 29% globally. This is on par with pre-pandemic discount levels.
  • Returns are likely to be low during Cyber Week and pick up in December: Only 7% of purchases are expected to be returned during Cyber Week, with thepeak of returns falling during Christmas and the days following (15%) as consumers race to return gifts they did not like before the return windows close.

For more data and predictions have a look at the holiday hub, which will be updated daily over Cyber Week.

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