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Some merchants may avoid stores in the meantime from the Coronovirus epidemic, but they are still putting a lot of items in the virtual shopping cart.
Thanksgiving Spending increased nearly 22% year-over-year to $ 5.1 billion, a new record, according to data from Adobe Analytics. In 2019, online sales on Thanksgiving Day were $ 4.2 billion. The company analyzes traffic on retail sales websites and deals with 80 of the top 100 online retailers.
According to Adobe, almost half of the purchases were made on smartphones.
Retailers offering curbside pickup had a 31% higher traffic conversion rate on their sites – how popular it is for people to shop online and retrieve purchases without going into stores.
The robust online shopping data reflects a trend that many retailers and industry watchers expected: more consumers are avoiding shopping malls and buying gifts from their couches during the epidemic.
Like all aspects of 2020, the global health crisis has shaken Christmas shopping. Retailers are closing, including Walmart and Target Sale in mid-October to coincide with Amazon Prime Day. They’ve expanded one-day sales events, giving shoppers less reason to participate this Black Friday.
One of the nation’s leading retail groups called the global health crisis Shopping enthusiasm will not diminish. The National Retail Federation estimates that Christmas sales will grow between 3.6% and 5.2% year-on-year, between $ 755.3 billion and $ 766.7 billion. Last year, they rose 4% to $ 729.1 billion, the NRF said. In the last five years, on average, Christmas sales have grown 3.5%.
However, the trade group said it expects more of those dollars to be spent online, rather than in stores. This led to a 20% to 30% increase in online sales and other out-of-store sales compared to the previous year.
Adobe said it is projected to be the two largest online sales days ever on Black Friday and Cyber Monday. Black Friday sales are expected to range from $ 8.9 billion to $ 10.6 billion and online sales are expected to increase to $ 189 billion throughout the holiday season.
Follow CNBC’s update on Black Friday here.
