U.S. online shoppers have spent $31.9 billion Nov. 1-20, which is a 16.7% year-over-year increase, according to Adobe Analytics.
Adobe’s data is based on an analysis of trillions of visits to U.S. retail websites in the trailing 12 months and transactions from 80 of Internet Retailer’s Top 100 online retailers.
Heading into the five-day period that runs from Thanksgiving through Cyber Monday, Adobe projects strong growth on each of the key days, with Cyber Monday leading the way with a 17.6% growth rate. Black Friday online sales will increase 17.2% year over year, and Thanksgiving online sales will increase 16.5%, Adobe forecasts.
“We are on track for another blockbuster season for e-commerce, as consumers increasingly favor the convenience of shopping online over making the trip to stores,” says Taylor Schreiner, director of Adobe Digital Insights. “Big discounts are on the horizon in the coming days, and shoppers need not wait until Cyber Monday for some of the best deals in computers, televisions and tablets.”
What’s more, according to a new survey of 1,200 shoppers from Deloitte LLP, 89% of shoppers plan to visit stores and 91% plan to shop online over the long Thanksgiving weekend through Cyber Monday.
Smartphones so far represent about 28% of sales and 48% of web traffic.
Monday, Nov. 19, was the first $2 billion dollar online shopping day of the season. This is earlier than last year when Thanksgiving was the first day to reach $2 billion in online sales in one day, according to Adobe. For the entire 2018 holiday season, Adobe projects online sales to hit $124.1 billion, which would be a 14.8% year-over-year increase. Adobe reaffirms that the season is on track to still hit that forecast.
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