SAP Commerce Cloud Powers Record $31.9 Billion In 2022 Holiday Digital Commerce Sales
SAP News, January 6th, 2023
The hotly anticipated 2022 holiday season is a wrap! The most wonderful time of year turned out to be flat for retailers, with one twinkly exception: online sales.
This year, SAP 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 MasterCard's SpendingPulse, U.S. retail sales increased 7.6% year over year this holiday season. The metrics from MasterCard are not adjusted for inflation and with inflation at 7.1% at the end of November, 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.