Reports by Adobe Analytics, Salesforce and JP Morgan Research Report showed that “record high discounts lured holiday shoppers to splurge,” according to Diamond World.
According to Adobe Analytics, online holiday sales rose 3.5% year-on-year to $211.7 billion with discounts hitting “a record high during the season.” According to a report by Salesforce, “retailers offering ‘buy online pick up in store’ (BOPIS) through December 15-24 sold 7 times more than those who didn’t during this period and social media referrals hit an all-time high.”
Finally, a report by JP Morgan Research shows that Black Friday and Cyber Monday sales in 2022 were up 11% and 9% from 2021, respectively. Online sales processed by J.P. Morgan over the Black Friday to Cyber Monday period went up 6.5% from 2021, while the number of transactions increased 4.1%. Cumulatively, says the report, “Black Friday and Cyber Monday sales were up 16.8% from last year and transactions rose 14.2% over the same period.”
