Thanksgiving Day, marking the unofficial kickoff of the holiday shopping season, witnessed a steady surge in online spending. Adobe reported $5.6 billion in U.S. online sales, while Salesforce recorded a global total of $31.7 billion. Despite steady consumer activity, the growth remained modest, signaling a cautious approach amid economic uncertainties.
Adobe Analytics reveals that U.S. consumers flocked to online platforms, contributing to $5.6 billion in Thanksgiving Day online sales. This reflects a 5.5% increase compared to the previous year, indicating a stable but not booming market. Mobile devices stole the show on Thanksgiving, with Adobe noting a record-breaking $3.3 billion spent, marking a 14% increase. This underscores the growing significance of mobile platforms in shaping consumer shopping habits.
Revenue by Day, Source: Adobe
Using data from its Commerce Cloud division, Salesforce reported a global online sales figure of $31.7 billion, with the U.S. contributing $7.5 billion. However, the growth percentage remains conservative at just 1%, underlining the cautious consumer sentiment.
Adobe and Salesforce tracked a single-digit increase in online traffic, emphasizing a steady but measured growth of 4% globally and 6% in the U.S. This cautious optimism sets the tone for the upcoming Cyber Weekend. As retailers gear up for Cyber Week, Adobe Analytics forecasts a total online spend of $37.2 billion, indicating a 5.4% YoY increase. Black Friday is expected to contribute significantly, with projected sales of $9.6 billion.
Consumer Behavior
Adobe suggests that while inflation impacts consumer behavior, the focus remains on discounts rather than declining purchases of high-ticket items. The discount surge, approximately 28% in the U.S., raises questions about retailers’ profit margins. Retailers strategically increased discounts by 28%, driving significant sales in categories like toys (182% growth) and electronics and computers (113% growth) compared to the previous month.
As the holiday shopping season unfolds, the online landscape reflects stability and caution. DoorFeed continues to connect consumers with enticing deals, influencing the evolving dynamics of the digital marketplace. Stay tuned for more updates as Black Friday figures emerge.
Conversion Rate by Desktop vs mobile, Source: Adobe