Online Thanksgiving Weekend Sales To Exceed $ 200 Billion, Adobe Says

People ride the elevator as shoppers arrive early for the Black Friday sale at the King of Prussia mall in King of Prussia, PA on November 26, 2021.

Rachel Wisniewski | Reuters

Online spending hit $ 200 billion for the first time during the holiday season, but Thanksgiving sales were low, according to data from Adobe Analytics, which tracks consumer sales on retailer websites.

Thanksgiving Day online sales totaled $ 5.1 billion, according to Adobe. That matches last year’s Thanksgiving spending. That’s about 21% more than that day in 2019, according to the company.

However, e-commerce spending was below Adobe’s projected range of $ 5.1 billion to $ 5.4 billion. The company expects total online sales this season to reach $ 207 billion, up 10% from last year and a record high.

The results raise questions about whether holiday demand will be as strong as predicted, or whether Thanksgiving has diminished in importance as shoppers buy gifts throughout the season. The pandemic has changed the rhythm of the season as retailers increase holiday sales and encourage shoppers to buy earlier to avoid out-of-stock and delivery delays in a year of supply chain problems.

Overall holiday shopping – both online and in stores – will also hit an all-time high of $ 843.4 billion to $ 859 billion, up 8.5% to 10.5%, according to the National Retail Federation. The sales forecast does not include expenses at car dealerships, gas stations and restaurants.

Online spending on Black Friday is expected to be between $ 8.8 billion and $ 9.6 billion, according to Adobe. According to the company, this compares with $ 9.03 billion in 2020 and $ 7.43 billion in 2019.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button