Thanksgiving weekend traditionally marks the beginning of the holiday shopping season for retailers, and this year is shaping up to be a strong one for e-commerce. According to Salesforce, global online sales on Thanksgiving reached $33.6 billion, showing a 6% increase from last year. The U.S. market alone saw an 8% increase, totaling $8.1 billion in sales. Additionally, Europe experienced a significant growth of 10%.
Adobe also reported impressive figures for Thanksgiving, with U.S. shoppers spending $6.1 billion, up from $5.6 billion in the previous year. This represents a nearly 9% increase in sales. Both companies have different methodologies for tracking sales data, but they both paint a positive picture for online shopping this holiday season.
Compared to last year, which saw sluggish online sales on Thanksgiving, this year’s numbers are encouraging. In 2023, total online sales amounted to $31.7 billion, with the U.S. generating $7.5 billion in sales, marking only a 1% increase from the previous year. Adobe’s figures from last year showed a growth rate of just 5.5%.
Despite economic uncertainties in various markets, retailers are offering attractive discounts to entice shoppers to make purchases. Both Adobe and Salesforce noted that discounts played a significant role in driving sales, with the average discount in the U.S. reaching 27% off the listed price. Salesforce also highlighted that the average selling price increased by only 2% year-over-year on Thanksgiving, indicating a minimal growth rate since 2022.
Thanksgiving Day has emerged as a key mobile shopping day in the U.S., with most physical stores closed and people spending time with friends and family. Adobe reported that mobile sales reached an all-time high, accounting for 59.5% of online sales on the day, amounting to $3.6 billion spent online via mobile, up 10.5% year-over-year. Salesforce revealed that 72% of all orders on Thursday were made on mobile devices, a 3% increase from 2023, with mobile traffic representing 80% of all online traffic.
The concept of holiday shopping has evolved with the rise of e-commerce and the internet. Black Friday, once exclusive to the U.S., has now become a global phenomenon, with sales events extending beyond Thanksgiving. These holiday sales days are now bundled together as “Cyber Week,” starting days before Thanksgiving. Salesforce reported a 7% increase in global sales and a 14% increase in the U.S. at the start of Cyber Week.
Innovations in e-commerce, such as generative AI, are shaping the future of online shopping. Retailers are increasingly using digital agents and GenAI, with a 32% increase in adoption compared to the previous week. While the impact of AI tools on sales conversions and customer experience remains to be seen, the holiday shopping season is off to a strong start.
As the holiday shopping momentum continues to build throughout Cyber Week, shoppers are eager to secure the best deals of the season. Mobile devices are becoming the preferred choice for online shopping, reflecting a shift towards convenient and accessible shopping experiences. Stay tuned for updates on Black Friday sales later today.
