Adobe Data: Record Online Sales on Thanksgiving Day
Bellies full of Turkey and fixins didn’t stop consumers from spending a record $5.29 billion (up 2.9% YoY) online on Thanksgiving Day, according to Adobe Analytics data.
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Shoppers were enticed by big discounts in categories like toys and electronics and took to their smartphones during holiday meals.
Mobile shopping drove 55% of online sales (up 8.3% YoY), an all-time record for Thanksgiving Day since 2012.
In the holiday season so far, consumers have spent $77.74 billion in the first 24 days of November.
Black Friday is expected to bring in $9 billion online today, up modestly at 1% YoY; With COVID-19 anxieties subsiding, Adobe expects more consumers will embrace in-store shopping on Black Friday.
Discounts: What To Buy Now, What To Wait On
Consumers can expect big discounts on Black Friday for toys (peaking at 34% off listed price), electronics (27%), and computers (18%).
Notable discounts are also expected in apparel (14%), appliances (14%) and televisions (13%), but Adobe anticipates the best deals in these categories will hit over the weekend.
Those looking to buy a computer may want to wait until Cyber Monday when discounts are expected to peak at 27% (currently at 18%).
Cyber Monday is also set to have the best deals for appliances (18%).
Top Selling Products
The top-selling toys so far include Squishmallows, Roblox, Paw Patrol, Hot Wheels, Cocomelon and L.O.L Surprise Dolls, a longtime favorite.
Top gaming consoles include Nintendo Switch, Xbox Series X, and PlayStation 5. The most popular games include God of War Ragnarök, FIFA 23, Madden 23, and Call of Duty: Modern Warfare II.
Other hot sellers: Apple Airpods, Instapots, Smart televisions, digital cameras, and gift cards.
Additional Adobe Analytics Insights
Buy Now Pay Later (BNPL): In an uncertain economic environment, a more cautious consumer is embracing more flexible ways to manage their budget.
On Thanksgiving Day, BNPL revenue online was up 1.3%, and orders were up 0.7%. Adobe expects BNPL usage to ramp up with the big shopping days (Black Friday, Cyber Monday) on the horizon.
Surging Categories: Online sales of strollers are up 133% (compared to average daily sales in October 2022). Other categories showing strong demand include outdoor grills (up 131%), speakers (up 122%), and cameras (up 111%)
Curbside pickup: As online shopping picks up, curbside pickup was used in 13% of all online orders on Thanksgiving Day (for retailers that offer the service).
This is down from 21% last year and shows the impact of store closures today. Adobe expects curbside pickup to peak from December 22 to December 23 (right before Christmas Eve) and account for 35% of all orders.
“Mobile shopping had struggled to grow for many years, as consumers found the experience lacking compared to desktop,” said Vivek Pandya, lead analyst, Adobe Digital Insights.
“Thanksgiving this year has become an inflection point, where smartphones drove real growth and highlights how much these experiences have improved.”
Adobe expects Cyber Week (the 5 days from Thanksgiving through Cyber Monday) will generate $34.8 billion in online spending, up 2.8% YoY, and represent a 16.3% share of the full Nov-Dec holiday season.
Cyber Monday will remain the season’s and year’s biggest online shopping day at $11.2 billion, up 5.1% YoY.
Last year, consumers spent a total of $204.5 billion over the 2021 holiday season, up 8.6% year-over-year (YoY).
Adobe provides a comprehensive view of US eCommerce spending by analyzing consumer transactions online. The analysis covers over one trillion visits to US retail sites, 100 million SKUs, and 18 product categories.
During the holiday season, Adobe offers daily updates on consumer spending on its Holiday Shopping Trends & Insights Reports here.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.