This Thursday was an eventful one because of Thanksgiving. Many popular social networking sites were experiencing downtime and most shops closed due to holiday, leading the sale hunters to flock the Internet for holiday shopping.
As per Adobe, the amount spent on the Internet increased by 20.2% as compared to last year’s Thanksgiving. They said, as on 5 p.m. Pacific time, $2.1 billion had been spent on shopping. Last year, 33.5% of purchases were made on Smartphones whereas this Thanksgiving, the numbers went up to 46.4%.
Smartphone browsing also went up to 63.4% from last year’s 56.6%. This data implied that as the day went on, sales accelerated. According to Adobe, until 10 a.m., $470 million had been spent online, a rise of 14.5% as compared to the sales figures from the same time last year. Adobe said that the sales are on the right track and would reach $4.4 billion in total sales on Thanksgiving Day.
As of 11:30 Pacific time, the e-commerce backend provider, Shopify noted that it was watching around 4,500 transactions per minute on Thanksgiving and almost $400,000 was spent each minute.
Shopify’s digits almost clashed with that of Adobe’s, as they noted 66% of all sales were being made on mobile devices. Apparel and accessories were the most popular categories, and New York was the top-selling city. The average cart price was $78.66.
80 of the top 100 US retailers use Adobe Analytics to tracks sales in real-time, covering about 55 million Stock Keeping Units (SKUs) and some 1 trillion transactions during the holiday sales period. Shopify uses data from across a range of online retailers that use Shopify APIs to run their sales.
The traditional holiday sale is usually considered to be Black Friday, the day after Thanksgiving. However, consumers spending time at home on Thanksgiving itself increasingly came online — on a day when most of the three-dimensional stores were closed — just to get the ball rolling!
Thanksgiving was late this year!
This was a more frenzied, selling period because of the fact that Thanksgiving came a week later than in 2018 (which happened to be on the 22nd of the month) thus, making it a compressed month for shopping.
This year’s holiday overall sales are predicted to reach nearly $144 billion, as many retailers this year made an early jump on their Black Friday deals. So far, some $53 billion has been spent online in the month of November up to today.
“The strong online sales performance to-date suggests that holiday shopping starts much earlier than ever before. Steep discounts on popular items like computers on the day before Thanksgiving indicate that many of the season’s best deals are already up for grabs. This has led to significant growth in online sales (16.1% Year over Year increase) so far. What will be important for retailers to track is whether the early discounts will drive continued retail growth overall, or if they have induced consumers to spend their holiday budgets earlier,” stated Jason Woosley, Vice President of Commerce Product & Platform at Adobe.