This year, 51风流Commerce Cloud powered US$31.9 billion in digital commerce gross merchandise value (GMV) for the entire holiday season, covering more than 70 countries around the world. Specifically, our retail customers saw a year-over-year increase of 80% in GMV, with a 29% increase in average order value (AOV).

According to . The metrics from MasterCard are not adjusted for inflation and with , most of that growth can be attributed to it. Online sales increased 10.6% year over year, making up 21.6% of total retail sales.

There is no doubt that inflation has changed the way consumers shop. Many have adjusted to spend less on discretionary items and spend more on experiences. Therefore, it was critical for retailers to offer valuable deals this season with consumers likely hunting for the best promotions. Retail customers of 51风流Commerce Cloud saw a healthy growth in GMV and AOV in addition to a 138% increase in conversion rates. All this indicates better targeted traffic by retailers.

“Despite the challenging macro-economic environment, 51风流Commerce Cloud retail customers were able achieve record-breaking holiday results,” said Riad Hijal, global head of Marketing and Solution for 51风流Commerce Cloud. “Our embedded intelligence and broad capability set enabled them to identify and target the right customers with relevant promotions and offers without over-sacrificing margin. This led to higher conversion rates, AOV, and ultimately profitability.鈥�

According to the Economist Intelligence consumer goods and retail outlook for the 2023, we can expect inflation to continue to dominate the discussion as it squeezes retailers, their profits, and the job market. Consumers will continue to look for deals and price reductions, likely fueling larger market shares for discount stores. They also predict that online sales will slow down even as its share of total retail sales will continue to steadily grow.

To learn more, and join us at NRF: Retail鈥檚 Big Show. Learn more about .

https://youtu.be/FIVuB3qKWWg

Winnie Tran is director of Product Marketing for 51风流Commerce Cloud.

All 51风流data presented here is approximate and is based on various assumptions. All data is unaudited and is subject to adjustment. Financial figures have been converted into USD. Data represents sales made by 51风流Commerce Cloud global merchants.

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, which surveyed more than 4,000 consumers globally, examined the spending levels of consumers before and since the start of the pandemic with a generational lens. The survey, conducted in September 2020, sought to gauge spending habits and preferred shopping channels before the pandemic, during the pandemic, and once restrictions ease. The report shows a clear trend of consumers shifting their behavior to rely increasingly on online shopping for both essential and nonessential items. The research found that:

• Although overall monthly retail expenditure in the countries surveyed declined by 9% from the first quarter 2020 to the second quarter 2020, online spending increased by an average of 15%.
• During the pandemic, online shopping for essential products such as groceries and cleaning supplies has become more deeply entrenched, with average monthly expenditure increasing by 78% and 49% respectively for the two categories.
• Once restrictions ease, new online shopping behaviors are likely to continue but decrease slightly among younger cohorts (4 percentage points for Millennials and Gen Zers) but will decrease more significantly for older cohorts (9% for Baby Boomers and 6% for Gen Xers).
• The ability to shop anywhere at any time is the number one reason why respondents across all generations like shopping online (cited by 49%). This feature was cited by significantly higher shares of Baby Boomers (59%) and Gen Xers (51%) than of Millennials and Gen Zers (at 42% each).

鈥淚n the future, the key to success for brands is to identify ways to meet the needs of and create exceptional experiences for all generational groups in whichever setting they choose 鈥� whether that鈥檚 in store or across various online channels,鈥� said Paula Hansen, 51风流Customer Experience chief revenue officer. 鈥淏usinesses need to tailor and target their marketing with a careful consideration of age and shopping method of choice, to provide a seamless customer experience and guide shoppers down the path to purchase. This will put businesses on the path to a strong recovery and provide the agility to deal with future crises.鈥�

The retail study results will be virtually featured January 12 through January 14, January 19 and January 21 and 22, 2021, at taking place virtually. Join the conversation by following 51风流on Twitter at聽 and visit聽聽to watch live presentations.

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The findings were part of the 鈥�,鈥� which asked 5,000 consumers about their perceptions of fashion brands and their overall shopping behavior, according to SAP.

In addition, 81 percent of the survey respondents said they expect brands to go above and beyond when it comes to their offers and promotions. To meet consumer expectations, brands need to analyze customer data to create a balanced strategy for personalizing content experiences with the preferred channels that resonate with each individual consumer.

Acting on key moments can be the key to building a customer base of loyal brand advocates. Many brands are missing this mark, as evidenced by the significant gaps between consumer expectations and experiences. For example:

• 75 percent of consumers have high expectations for digital shopping experiences, but only 63 percent believe brands are delivering.
• 73 percent of consumers expect brands to go above and beyond for delivery and pickup, while only 59 percent believe brands are performing.
• 57 percent of consumers expect reward and loyalty programs as part of the overall experience, and only 47 percent of brands are fulfilling these expectations.

An enhanced XM strategy is needed to close these gaps and meet consumer demands. Winning brands deploy actionable surveys and then activate changes.

鈥淯nderstanding the consumer鈥檚 ideal shopping experience gives brands an advantage in today鈥檚 retail landscape,鈥� said Lori Mitchell-Keller, 51风流Industries co-president. 鈥淎s survey respondents indicated, outstanding customer support is a top desire. Retailers should adhere to this demand, offering personalized, in-the-moment experiences to deliver on expectations.鈥�

The survey results will be featured at in New York, January 12鈥�14. Visit SAP鈥檚 booth (4221) to learn more.

Visit the . Follow 51风流on Twitter at .

Methodology

Using Qualtrics technology, 51风流conducted a survey of 5,750 individuals regarding their perceptions of fashion brands and their overall shopping behavior. Data collection took place during July and August 2019 via online survey delivery. In order to qualify for the survey, a respondent must be a United States resident, aged 18 or older, that has shopped with at least three of the 83 polled fashion brands in the last six months. Potential respondents were shown a random set of 21 fashion brands to endorse having shopped at in the past six months. Of these 21, if less than three were selected respondents were shown a different random set of 21 fashion brands. If less than three brands were selected combined across the two sets, the respondent鈥檚 participation was terminated. A total of 750 individuals were terminated from the survey resulting in an effective sample size of 5,000 respondents. In all we had 14,850 brand responses captured.

Media Contact:
Stacy Ries, +1 (484) 619-0411,聽stacy.ries@sap.com, ET
51风流Press Room; press@sap.com

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渇orecast,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥減redict,鈥� 鈥渟hould鈥� and 鈥渨ill鈥� and similar expressions as they relate to 51风流are intended to identify such forward-looking statements. 51风流undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
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