The IT Nerd

Following up on this post and this post, here are the final Cyber Week findings for 2024 from Salesforce.

Cyber Week Results | Key Findings for Canada + US + Global: 

Cyber Week: 

• Digital sales across Cyber Week for Canadian retailers reached $5.1 billion CAD in 2024
• Digital sales reached $76 billion in the United States (up 7% YoY) and $314.9 billion globally (up 6% YoY).

Black Friday:

• The Black Friday online sales estimate for Canada is $309M CAD 
• Globally online sales reached $74.4 billion (up 5% YoY) and $17.5 billion (up 7% YoY) in the United States. 

Cyber Monday: 

• Global online sales reached $12.8 billion in the United States (up 3% YoY) and $49.7 billion globally (up 2% YoY).
• The Canadian average discount rate during Cyber Week was 22% (down 7% YoY).
• In contrast, the global average discount rate was 26% and the U.S. discount rate was 28%, both down 1% YoY.
• The Average Order Value in Canada increased ever so slightly to $102 CAD up from $101 CAD last year.

Additional Global Findings

• AI and agents play a big part in Cyber Week: Retailers doubled down on the use of AI, including agents, to power shopping experiences this season.
• $60 billion of global online sales were influenced by AI and agents for product recommendations, targeted offers, and conversational customer service support.
• Retailers used generative AI and agents 18% more during Cyber Week than the previous week, likely to drive efficiency and personalization for customers.
• Mobile conversion picks up the pace: As consumers of all ages grow increasingly comfortable with mobile shopping and the mobile buying experience gets easier, the gap between mobile traffic and mobile orders is narrowing. This trend underscores a growing consumer willingness to make significant and high-value purchases directly from their smartphones.
• More than 80% of both U.S. and global ecommerce traffic originated from a mobile device during Cyber Week
• Exactly as predicted, mobile orders drove 70% of U.S. and global sales, up from 67% in 2023.
• In total, mobile accounted for $220 billion in sales globally and $53.3 billion in the United States.
• Mobile wallet usage also increased 16% globally during the week.
• Social commerce plays critical role for retailers
• Retailers implementing social commerce strategies saw 19% of their Cyber Week sales generated through platforms like TikTok Shop and Instagram.
• Mixed bag of discounts drove mixed bag of results: Despite the threat of growing consumer appeal and low prices offered by Chinese marketplaces like Temu, Shein, and AliExpress, Western retailers did not offer significant discounts to compete.
• Verticals with the highest global average discount rates included:
• Makeup (40%)
• General apparel (34%)
• Skincare (33%)
• Verticals with the highest U.S. average discount rates included:

Salesforce’s global press release can be found here if you want to go into the weeds on this.

This entry was posted on December 4, 2024 at 3:45 pm and is filed under Commentary with tags Salesforce. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.