Large retailers are benefitting from a November sales boost as holiday shoppers ramp up online shopping, according to Adobe. Large retailers are seeing an 11% higher boost in revenue this month than what smaller retailers are experiencing, it said, also noting that great deals are still available for online shoppers. Adobe analyzes direct consumer transactions online, covering over one trillion visits to US retail sites, 100 million SKUs, and 18 product categories.
“With Thanksgiving Day finally upon us, we can expect the online spending momentum to escalate during Cyber Week as price-conscious shoppers try to tap into best available discounts,” according to Vivek Pandya, Lead Analyst, Adobe Digital Insights.
“And despite a more inflationary shopping environment also marred by supply chain disruptions, consumers today can still expect to find great deals on seasonal categories such as Toys, Apparel, and Computers.”
Adobe makes available a holiday-shopping portal with data and interesting stats. For example, it has an infographic showing the three most popular products. On Veteran’s Day, they were: PS5, Legos, and Air Fryer. On the day before Thanksgiving, they were: HP Laptop, Amazon Echo, and Soundbars. (Stay tuned for the top-3 items for Thanksgiving, Black Friday, and Cyber Monday.)
Where are the bargains? For Thanksgiving Day, the biggest discounts were expected to be on Toys (-21.3%), Apparel (-15.2%), Computers (-12.9%), TVs (-11.6%), and Sporting Goods (-7.0%). On Black Friday the deepest discounts will be on Furniture & Bedding and Tools & Home Improvement categories. Small Business Saturday will offer best deals on Electronics and Appliances. Sunday will see heavy discounts for Sporting Goods and Apparel, while Cyber Monday will offer the biggest price drops on TVs.
Some of the categories showing a strong season-to-date boost are Toys (up 259%) and Video Games (167%) compared to the September average. And the biggest movers over the past week (Nov. 18- Nov. 24) include Jewelry (up 79%) and Personal Care Products (89%) over Sept. average.
Adobe expects US consumers to spend between $5.1B and $5.9B on Thanksgiving Day, which would be a record for the day. “This reaffirms its place as a major online shopping day as an increasing number of retailers keep their brick-and-mortar stores closed today, forcing consumers turn to online shopping.”