Online's $3 Billion Dollar Shopping Days Driving Retail: Adobe

Online's $3 Billion Dollar Shopping Days Driving Retail: Adobe

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The convenience of smartphones powered Thanksgiving Day sales online, accounting for half of all transactions.

The share of mobile-driven spending increased by 30% compared to yesterday. Some $25.5 billion has been spent via smartphones in November -- up 48% YoY, which equates to 38.6% of all ecommerce sales, according Adobe Insights data released late Thursday.

Overall, online shopping continues to break records.

Adobe Analytics confirmed Thursday its full-season shopping forecast from November through December, of $189.1 billion spent online -- up 33.1% YoY.

Since Sunday, Adobe has seen strong spending of $14.5 billion, up 40.6% YoY, with each day this week bringing in more than $3 billion.  

Adobe analyzed one trillion visits to U.S. retail sites, 100 million SKUs and 80 of the 100 largest retailers in the U.S. to arrive at those numbers, uncovering two interesting statistics from its holiday shopping data.

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Looking at searches for shipping and curbside pickup, curbside pickup has seen 116% year-over-year (YoY) growth to date this week, while expedited shipping has experienced an increase of 49%.

Adobe Analytics analysts estimate December 11 will be the last day for cheaper shipping rates, with prices increasing after on average of 14.6%.  

This year, consumers are turning to online shopping in record numbers. While Adobe anticipates spending levels will rise during the evening hours on Thanksgiving Day, the number will came in below $6 billion in total sales. Retailers were successful in moging shoppers to buy earlier in the season with discounts and promotions.

There were many first-time online shoppers this year because COVID-19 is kept consumers out of stores, many of them putting a limit on the number of shoppers they allow in at any one time.     

This week, 9% of all sales have been generated by net new customers as traditional brick-and-mortar shoppers turn online to complete transactions in light of shop closures and efforts to avoid virus transmission through in-person contact.  

Interestingly, the top Netflix TV series -- The Queen’s Gambit -- is having an effect on chessboard sales. Since the launch of the show, consumer interest in chessboards and chess-related items was up 300% compared to the previous month.

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November 26, 2020 at 11:40PM