Thanksgiving is late this year, which means there’s even more pressure on retailers to connect with consumers on marquee shopping dates before families exchange gifts for Chanukah and Christmas.
According to data analytics provider Adobe Analytics, 78% of retailers plan to increase communication to compensate, so this abbreviated shopping season means consumers will undoubtedly see more ads.
We’re also seeing retailers make a concerted effort to lure shoppers even earlier. Customer relationship management software provider Salesforce projects “early bird shopping” on the Tuesday and Wednesday before Thanksgiving will account for 19% growth in global revenue in digital channels. And Adobe data shows that’s precisely what’s happening with $240 million spent online as of 9 ET on Nov. 27, meaning the day is on track to hit $2.9 billion.
Here’s a curated list of the most insightful holiday predictions and stats as we head into Cyber Week:
- 13-14% growth in online sales to about $140 billion
- At least $1 billion a day in online sales from Nov. 1 to Dec. 31
- 4% growth in retail overall to $730 billion
Adobe forecasts an all-time high for the holiday shopping season, which it defines as Nov. 1 to Dec. 31, with a total of $143.7 billion in online expenditure. That’s 14.1% more than 2018.
And, Adobe said, for the first time ever, every day in Nov. and Dec. will surpass $1 billion in online sales. Every day in Nov. has so far surpassed the $1-billion mark—with seven days surpassing $2 billion.
Similarly, Salesforce forecasts 13% year-over-year growth in digital commerce revenue with sales hitting $136 billion in the U.S. (and $768 billion worldwide).
In terms of retail overall, the National Retail Federation (NRF) expects an increase of 3.8% to 4.2% to $727.9 billion to $730.7 billion for Holiday 2019. That’s slightly more than the average holiday increase of 3.7%, which we’ve seen the last five years.
- Over $4 billion overall
- Lots of mobile sales
- Big discounts
Adobe forecasts $4.4 billion in in online sales on Thanksgiving Day, which means 19.7% growth from the $3.7 billion spent in 2018.
Nearly half of online shoppers—46%—expect to do their shopping between 9 a.m. and noon, with 54% using smartphones. One in five will be using smartphones “so that friends and family won’t notice them shopping,” Adobe said.
Clothes, electronics and toys are the top products shoppers plan to buy on Thanksgiving, but Adobe said consumers can expect to see big discounts across the board.
Black Friday: A $7.4-billion day
Digital revenue on Black Friday will be $7.3 billion in the U.S. and $39.6 billion worldwide, Salesforce predicts.
Similarly, Adobe anticipates $7.5 billion and noted this is the day shoppers will find the biggest discounts on appliances (up to 9%) and sporting goods (6%).
Digital marketing company Bazaarvoice found 37% of consumers say they will complete most of their holiday shopping on Black Friday, followed by Cyber Monday at 19%.
- A $9-billion day
- Includes the “Golden Hours of Retail”
While Salesforce predicts Cyber Monday will bring in $8.2 billion in the U.S (and $32.2 billion globally), Adobe thinks it will be even higher: $9.4 billion.
In addition, Adobe said the “Golden Hours of Retail,” or Cyber Monday from 10 to 2 p.m. ET, will account for 30% of revenue for the day as conversion nearly doubles in this four-hour window.
Web content management company Acquia said 60% of consumers plan to spend the same or more on Cyber Monday than they did last year, which was a $7.9-billion day.
Overall, Salesforce said Cyber Monday remains the best day for deals with an average discount of 29%. Meanwhile, Adobe said Cyber Monday is the day to buy televisions with 19% off, but Dec. 27 onward has the best deals on electronics with 27% off.