e-Commerce Sees New Record as Thanksgiving Shopper

e-Commerce Sees New Record as Thanksgiving Shoppers Go All Out on Spending

2024 saw Thanksgiving sales increase, with mobile and e-commerce purchases hitting new highs. An analysis conducted by Adobe Analytics determined that by the end of November 28th, online consumers had spent $6.1 billion during Thanksgiving. This figure represents an 8.8% increase from 2023’s Thanksgiving sales.

Adobe Digital Insights’ lead analyst Vivek Pandya stated that Cyber Week had started on a strong high, with huge discounts driving impulse shopping in categories like apparel and electronics.

Cyber Week refers to the 5-day period which includes Thanksgiving, Black Friday and Cyber Monday. This year, Cyber Monday was on December 2nd.

Salesforce, an e-commerce platform provider, saw its global online sales on Thanksgiving increase to $33.6 billion. This represents a 6% growth from 2023 Thanksgiving sales. Both Salesforce and Adobe also saw mobile orders play crucial roles in these increases, with Salesforce recording a 3% growth in international online orders from 2023.

Salesforce revealed that the share of transactions made from mobile devices increased 3% from last year.

Analysts at Adobe found that over 59% of all Thanksgiving online transactions were made from mobile devices. This is the biggest share the firm has ever recorded during this holiday, valued at $3.6 billion.

By category, Salesforce recorded the strongest sales growth in the furniture, dining, and home appliance categories, a 20% increase in comparison to last year’s figures. This was followed by handbags and general footwear, with sales growing by 18%.

Adobe observed that consumers purchased higher-price items during this period than they did previous to the holiday season in appliances, sporting goods, and electronics. For instance, popular toys included Harry Potter toys, board games, stuffed animals, and action figures all sold more than they did earlier this year.

Other e-commerce platforms that recorded growth during this period included Shopify, which revealed that peak sales occurred at 9pm on November 28th.

Additionally, the e-commerce platform listed popular products from its online retailers, which included:

- Flush Balm by Merit Beauty
- Liquid Lash Extensions Mascara by Thrive Causemetics
- Bamboo Sheet Set by Cozy Earth

Adobe also highlighted that the buy now, pay later services played a crucial role, with $430 million in online spending during the Thanksgiving period being credited to these services. This represents a more than 10% increase from last year, with Adobe expecting these services to drive over $990 million in purchases on Cyber Monday.

Data from Adobe Analytics is based on over one trillion visits to United States retail sites, eighteen product categories, and 100 million stock-keeping units.

These statistics are likely to be of interest to e-commerce players like NextPlat Corp. (NASDAQ: NXPL) (NASDAQ: NXPLW) given that such data can guide how these companies plan how to target more customers.

NOTE TO INVESTORS: The latest news and updates relating to NextPlat Corp. (NASDAQ: NXPL, NXPLW) are available in the company’s newsroom at https://ibn.fm/NXPL

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