United Investment Limited - Why this stock jumped higher on Wednesday, November 30th?

CENTRAL, Hong Kong - March 28, 2023 - PRLog -- Cyber Week was a huge success for merchants, and it was especially popular with Americans.

Salesforce, while not a store, is a leading provider of CRM solutions to the sector.

What's good for the retail business is generally good for customer relationship management (CRM) king Salesforce. Investors sent the company's share price up 6% higher on the day, nearly doubling the percentage gain of the S&P 500 INDEX (^SPX), on the strength of some highly optimistic news from the major tech shopping holiday.

According to CRM internal data, Cyber Week (the days preceding and following Cyber Monday) generated $281 billion in online sales for retailers worldwide.

This reached a new all-time high and was 2% higher than the same period the previous year. The results for CRM's home market, the United States, were more optimistic, rising by 9% to $68 billion.

As usual, internet consumers were enticed by discounts given by a variety of companies. According to CRM statistics, the global average discount rate was 27%, and it was much higher (30%) in the United States. These exceeded pre-coronavirus pandemic Cyber Week levels, spurred by bargains in the general clothes and makeup/skincare product categories.

As a CRM expert, naturally implied that its continuing success will be dependent, at least in part, to the kind of solutions it delivers to its customers.

"As we near the end of the Christmas season, retailers must focus on automation to combine operational efficiency with consumer loyalty," said Rob Garf, the company's vice president, and general manager of retail. "We predict that businesses who focus on store fulfilment, personalize service, and simplify returns will be winners and achieve greater success presently."

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