Due to Covid-19, online shopping has become more prevalent than ever. Consumers haven’t stopped purchasing, but instead have switched their medium.
According to Adobe Analytics data, Thanksgiving Day spending rose by 21.5% this year to $5.1 billion, hitting a new record. Online sales totaled $4.2 billion on Thanksgiving Day last year.
Adobe found that nearly half of the online purchases were made on a smartphone.
The Adobe Analytics Holiday Forecast 2020 predicted that online holiday spending will surpass $189 billion this year.
Black Friday online sales are predicted to reach $10.3 billion in sales, with Cyber Monday reaching $12.7 billion.
According to a survey conducted by Adobe, one third of all consumers will complete holiday shopping by Black Friday.
Another survey conducted by Adobe predicts that 51% of consumers plan to support small and local retailers on Small Business Saturday.
Adobe Analytics compared daily sales in November – December to October’s daily sales. The data predicts that small businesses ($10M – $50M in yearly revenue) will experience an 107% increase in revenue over the holiday season, with large retailers ($1B+ in yearly revenue) experiencing an 84% increase in revenue.
Adobe also compared the best days to buy by category, finding that the best day to buy appliances and televisions is Black Friday. Nov. 28 was found to be the best day to buy computers.