Thanksgiving Online Sales Surpass $4 Billion for the First Time
Holiday shoppers spend a record $4.2 billion online during Thanksgiving, driven heavily by mobile purchases and major retailers. Black Friday projections indicate an even larger $7.5 billion spending surge.
Bargain hunters flock online to start their holiday shopping, pushing Thanksgiving Day online sales to a record $4.2 billion. This 14.5% increase over last year marks the first time the Thanksgiving milestone surpasses the $4 billion mark, although it falls slightly short of the initial $4.4 billion estimate. With many physical stores closed and people off work, consumers turn to the internet to kick off their holiday purchasing.
Smartphones and tablets play a massive role in this shopping surge, accounting for 45% of all sales, which represents a 24.4% increase over last year. Large e-commerce giants benefit the most from this holiday traffic, experiencing a 244% rise in sales compared to a 61% increase for smaller retailers. This gap stems partly from the vast inventories and flexible delivery options that major retailers offer.
Fast shipping and convenient pickup options significantly boost sales, generating nearly 40% more revenue than last year as 61% of shoppers plan to use same-day delivery or curbside pickup. The momentum continues into Black Friday, where $600 million is already spent during morning hours. Analysts project a massive $7.5 billion in online spend for Black Friday, indicating that the biggest gains for retailers and shoppers are still on the way.