Adobe Analytics saw 14.5% growth in online shopping by 10 am on Thanksgiving Day and forecast sales of $4.2 billion for the day, up from $3.7 billion in 2018.
It’s been tracking holiday shopping and noted some interesting data points – including the fact that all 27 days in November surpassed $1 billion in sales – and 8 of those days rang up over $2 billion!
It also pointed to the following record-breaking sales as noteworthy:
- Between 11/1 and 11/27, a whopping $53B have been spent online, a comparable 16.1% growth YoY (year over year);
- The day before Thanksgiving (11/27) brought in $2.9B, representing a 22% increase from 2018;
- Consumers have made $18.2B in purchases via smartphones this season, representing 49.5% growth YoY.
Looking ahead, Adobe Analytics is forecasting 20.5% year-over-year growth for Black Friday and 19.1% growth for Cyber Monday.
Adobe Analytics analyzes over a trillion visits to over 4,500 retail sites, and on Thursday it reaffirmed its full season (Nov-Dec) forecast of $143.7 billion in online sales.
Update 11/28/19: Adobe issued another update this evening: “Today will be the first Thanksgiving Day ever to surpass $4B in online sales. Thanksgiving Day is expected to set new records, with $2.1B spent as of 5 pm ET, representing 20.2% YoY growth. Online spend in the US is on track to hit $4.4B by end of day today.”