Salesforce logo / Courtesy of Salesforce

Salesforce announced on the 23rd the results of analyzing shopping data from approximately 1.5 billion consumers across 89 countries during the 2024 Cyber Week period.

According to Salesforce, global online sales during this year's Cyber Week period reached a record high of $314.9 billion (455.8 trillion won), a 6% increase from the previous year. Of this, artificial intelligence (AI) and AI agent technology contributed approximately $60 billion (86.9 trillion won), accounting for about 19% of total online sales. On Black Friday (Nov. 29), digital sales alone reached $74.4 billion, establishing it as a key shopping day during the Cyber Week period.

AI particularly contributed to increasing the conversion rates and customer service engagement for retailers. Salesforce noted that corporations implementing AI and AI agent technologies recorded an average conversion rate 2% higher than those that did not. Additionally, the use of AI-based chat services by shoppers increased by 38%, making AI the new standard for customer service. Retailers adjusted their utilization of generative AI and AI agents upward by 18% compared to just before Cyber Week to enhance efficiency and personalization.

The growth of mobile commerce and social commerce was also prominent. Globally, sales generated solely through mobile channels reached $220 billion, accounting for 70% of total transactions, representing a 3 percentage point increase from the previous year. Notably, social commerce using TikTok Shop and Instagram accounted for 19% of total sales, emerging as a growth engine for retailer revenues.

Meanwhile, discount rates generally showed a slight decrease. Despite the low-cost offensive from China, Western retailers adopted competitive strategies focused on service differentiation rather than large-scale discounts. The global average discount rate was 26%, a 1 percentage point decrease from the previous year, with high discount rates recorded in cosmetics (40%), general apparel (34%), and skincare (33%) categories.

Son Boo-han, president of Salesforce Korea, said, "This Cyber Week proved that AI technology can be a new growth driver for retail corporations," adding, "Particularly, it should be noted that personalized shopping experiences based on AI agents and effective customer service led to significant revenue increases." He continued, "Salesforce will continue to support retail corporations in providing differentiated customer experiences using AI agents and achieving tangible business growth."