day online sales expected to be flat YoY

According to current predictions, global online holiday sales will reach $1.2 trillion by 2023 compared to $1.14 trillion for 2022 — basically a flat pattern. Retailers should consider using AI, timely discounts, and friendly return policies to improve personalized service and promotions.

The Salesforce Shopping Index statistics are based upon an analysis of over 1.5 billion visits to sites that use Salesforce’s Customer360 suite. This includes a majority among the top 30 U.S. retail stores.

What we care about. We hear it every day. The unemployment rate is down, the inflation appears to be under control, and the economy has recovered from COVID. But people still don’t believe it. The holiday season is a time when shoppers will not cut back on their digital spending, but they also won’t spend more than ever before.

Dig deep: Holiday shopping requires marketers to be “always on”

Enter AI. Retailers are taking note of the fact that 17% have used generative AI for inspiration to purchase. Salesforce predicts that predictive AI and generative AI are expected to “influence” $194 Billion in online holiday shopping.

Send it back. Already burdened with excess inventory, 88% of retailers will likely take the risk to tighten their return policies. Salesforce warns that tighter return policy windows (30 days or less) could result in 7% fewer sales online for October and November. Poor return policies (unclear and difficult to understand) could also put 20% of sales on the line.

Early birds. Early birds. Cyber Week is expected to account for 25% of all digital holiday sales.

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The article Holiday Online Sales to Remain Flat YoY first appeared on MarTech.