Thanksgiving Day Online Sales Top $5 Billion
Consumers spent $5.1 billion online on Thanksgiving Day and are expected to spend between $8.8 billion and $9.6 billion today, Black Friday, according to the Adobe Digital Economy Index. (Adobe Analytics data covers over 1 trillion visits to U.S. retail sites, 100 million SKUs, and 18 product categories.) Thanksgiving was at the low end of Adobe's predicted range for online spend, which was set between $5.1 billion and $5.4 billion. However, spend for Thanksgiving was still a notable uptick over average daily spend levels with shoppers spending $3.5 million on average per minute on Thanksgiving Day. Here are some additional insights from the Adobe Digital Economy Index:
- Traditional holiday gift categories including toys (+527 percent over pre-holiday levels of September) and video games (+327 percent) performed well. Jewelry sales were spurred by charms and earrings (+300 percent and +207 percent, respectively).
- On Thanksgiving Day, curbside pickup was used in 21 percent of all online orders (for retailers that offer the service).
- Yesterday the prevalence of out-of-stock messages dropped to the lowest levels since June, as retailers became deliberate with their marketing efforts to drive consumers to products that are in stock.
“Today, consumers will see deeper discounts and more items in stock as retailers release their best deals of the season," said Taylor Schreiner, director, Adobe Digital Insights. "Popular products, including computers, apparel, appliances and sporting goods, are already seeing strong discounts this morning, so today is an excellent day to dig in on your holiday shopping.”
Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.