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BizReport : Ecommerce archives : November 23, 2018

Thanksgiving retail sales break $3b

For the first time, Thanksgiving Day e-commerce sales are expected to break $3.7 billion, which will be a significant increase over 2017 when online shopping hit only the $2.9 billion mark.

by Kristina Knight

Adobe Analytics is releasing initial retail data for Wednesday and Thursday of Thanksgiving week, and the outlook based on those two days is bright.

The data shows sales for Wednesday, the day before the US Thanksgiving holiday reached $2.4 billion, a 31% increase over 2017 numbers. Not only was that another record shopping day, but conversion rates increased across devices and increased the average order value by nearly 3%.

Wednesday sales were also the first time in e-commerce history when half of all retail visits came from smartphones. Throughout the lead-up to the holiday shopping season, smartphone visits have held steady at a 48% rate, significantly higher than experts predicted for the holiday shopping season.

"Mobile stole the show Thanksgiving Day with smartphones representing more than 50% of traffic to retail sites, as well as record amount of revenue. As consumers turn their focus to Black Friday, we expect them to take full advantage of the many discounts available, driving new records for online sales," said Taylor Schreiner, director, Adobe Digital Insights.

Another positive sign for merchants and marketers is that conversion rates are up. Desktops are leading with 4.3% conversion rates, smartphone conversion rates are averaging 2%, and tablet conversion rates are averaging 4.2%.

"Pre-Thanksgiving deals appear to have enticed consumers to spend a little earlier as we saw our second $2 billion day of the holiday shopping season. That growth is continuing in the early morning hours of Thanksgiving Day and we expect strong growth in sales and mobile throughout the day," said Schreiner.

Tags: 2018 holiday ecommerce, Adobe Analytics, ecommerce, ecommerce trends, m:commerce, mobile marketing

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