Thanksgiving weekend marks the beginning of the holiday shopping season for retailers, and this year’s online sales are showing promising growth. According to Salesforce, online sales have increased by 7% globally and 4% in the U.S. compared to last year, reaching $15.6 billion and $3.1 billion, respectively.
In comparison, last year’s Thanksgiving online sales were sluggish, with a total of $31.7 billion globally and $7.5 billion in the U.S. This year’s data is based on shopping information from 1.5 billion consumers collected through Salesforce’s Commerce Cloud, Marketing Cloud, and Service Cloud.
Discounts are averaging 24% globally and 27% in the U.S. as retailers aim to attract more shoppers amidst economic uncertainties. Thanksgiving Day has become a significant mobile shopping day in the U.S. as physical stores remain closed and people turn to their phones to browse and make purchases.
Salesforce predicts that the peak buying period will be in the evening, with 35% of all sales expected to occur between 7pm and midnight. Additionally, Thanksgiving is anticipated to be the biggest mobile shopping day of the week, with 73% of all sales taking place on mobile devices.
The concept of holiday shopping has evolved with the internet, extending beyond Black Friday to a global phenomenon. “Cyber Week” now encompasses various sales events leading up to Thanksgiving, with sales up 7% globally and 14% in the U.S. compared to last year.
While the e-commerce landscape may seem stagnant, the use of generative AI by retailers has increased by 32% in recent weeks. Salesforce highlights the potential of AI tools in improving sales conversions and enhancing the shopping experience, although concrete statistics are needed to assess their impact accurately.
Overall, the holiday shopping momentum is on the rise during Cyber Week, with consumers eager to find the best deals and make their holiday purchases. Director of Consumer Insights at Salesforce, Caila Schwartz, emphasizes the growing online traffic and sales as shoppers turn to their favorite websites via mobile devices.
