Leading up to the critical holiday shopping season that kicks off with “Cyber Week,” U.S. shoppers were holding back on spending, waiting for the deals that would help offset inflationary pressure and give some relief to price-conscious consumers.
While “highly motivated shoppers are ready to spend, despite rising prices,” said Caila Schwartz, director of consumer insights at Salesforce, retailers in the U.S. are still expected to offer discounts of as much as 37% during the week in apparel, health and beauty, and home furnishings (including appliances).
Salesforce expects the highest discounted categories globally to be beauty and makeup, followed by general apparel, and beauty and skincare, with discounts ranging from as much as 40% to 33%.
To find the best deals, shoppers will rely heavily on AI-powered tools. During the first three days of Cyber Week, customer conversations with AI agents increased 28% versus the week prior.
“Despite headwinds like tariffs and higher prices, consumers are not holding back from holiday shopping,” Schwartz added.
Related tickers: Coty (COTY), e.l.f. Beauty (ELF), Helen of Troy (HELE), Newell Brands (NWL), Edgewell Personal Care (EPC), Interparfums (IPAR), Colgate-Palmolive (CL), Unilever (UL), Estée Lauder (EL), Ulta (ULTA), Sally Beauty Holdings (SHB), Gap (GAP), TJX Companies (TJX), Ross Stores (ROST), Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Victoria’s Secret (VSCO), Urban Outfitters (URBN), lululemon (LULU), Nike (NKE), Consumer Staples SPDR ETF (XLP), Consumer Discretionary SPDR ETF (XLY)