Salesforce: Global online holiday sales set $1.2T record; returns boom
Online holiday sales soared in the U.S. and around the globe in 2024, but returns are skyrocketing as well.
Online sales for the entire 2024 holiday season (Nov. 1 - Dec. 31 ) reached a record-setting $1.2 trillion globally and $282 billion in the U.S., according to data from Salesforce. The totals represent a 3% global year-over-year increase from $1.17 trillion and a 4% year-over-year increase from $272 billion in the U.S.
In addition, the totals are also higher than Salesforce estimates released before the season began predicting that U.S. holiday sales would grow 2% year-over-year to $277 billion and global year-over-over holiday sales would climb 2% to $1.19 trillion.
[READ MORE: Salesforce: U.S. holiday sales to reach $277 billion]
However, Salesforce cautions that high rates of online returns may dampen the overall profitability of the 2024 holiday season for retailers. More than $122 billion of global online holiday purchases have already been returned, up a sharp 28% from the 2023 holiday season.
Salesforce projects the value of online holiday returns will grow to $133 billion globally, partially due to trending consumer behaviors like buying an extra size above and below your standard size with the intention of returning two items.
In addition, new Salesforce survey data suggests that 75% of U.S. shoppers are interested, and one-third are very interested, in using an AI agent to complete returns and exchanges.
"Retailers had a robust holiday season, but a 28% rise in the rate of returns compared to last year is a cause for some concern," said Caila Schwartz, director of consumer insights at Salesforce. "Retailers who have embraced AI and agents are already seeing the benefits, but these tools will be even more critical in the new year as retailers aim to minimize revenue losses on returns and reengage with shoppers."
Salesforce also examined a number of other key online shopping trends from the 2024 holiday season:
Salesforce also examined a number of other key online shopping trends from the 2024 holiday season:
Artificial intelligence
- $229 billion of global online sales were influenced by AI and agents in the form of product recommendations, targeted offers, and conversational customer service support.
- One-in-five (19%) holiday purchases were influenced by consumers engaging with AI and agents, a 6% increase from 2023.
- Retail use of generative AI features like agents increased 25% during the holiday season compared to September and October in 2024.
- Shoppers used AI- and agent-powered chat for customer service 42% more than they did during the 2023 holiday season.
Social commerce
- Retailers using social commerce strategies saw 20% of global holiday sales generated through platforms like TikTok Shop and Instagram.
- Social media as a traffic-referring channel also grew 8% year-over-year, driving 14% of all traffic to e-commerce sites during the season.
Mobile
- While global mobile traffic share remained steady at 79%, the percentage of orders placed by mobile grew roughly 4%, to nearly 70% from 67% in 2023.
- Mobile orders reached their highest level on Christmas Day (Dec. 25), accounting for 79% of all orders, up roughly 2% from 77% in 2023.
- Survey data from Salesforce also found that 79% of U.S. shoppers said a store associate used a mobile device to help them shop in store in the last year.
- Overall, $842 billion in global sales and $195 billion in U.S. sales were initiated by mobile devices.
Seasonal discounts
- Average discount rates for the entirety of the 2024 holiday season reached 23% in the U.S. (up 1% year-over-year) and 22% globally (up 2% year-over-year).
- The verticals with the highest global discount rates were:
- Makeup (36%)
- General apparel (30%)
- Skincare (28%)
- The verticals with the highest U.S. discount rates were:
- General apparel (33%)
- Health and beauty (29%)
- Home goods and decor (18%)
