Online Thanksgiving Sales Climbed Higher Than Last Year: Data
The Thanksgiving sales have climbed high on e-stores as most of the US bargain hunters decides to stay indoors for holiday.
Data from Adobe Digital Index reveals by Thanksgiving evening the sales climbed above the $1 billion mark, about 14 percent higher compared to the same day a year ago.
The US online consumers spent $1.15 billion between midnight and 5 p.m. ET on Thursday.
Usually the stores start offering deals and discounts on sales the day after Thanksgiving, or Black Friday, in the United States but the online stores begins with similar or cheap deals weeks in advance to cope up with lower demand and stiff pricing competition.
Chief executive of discount retailer Target, Brian Cornell, said the Thanksgiving is one of their strongest days ever online and the sales this time grew by double digits on their platform.
November and December months are crucial for retailers as it accounts for up to 40 percent of annual sales and hence the stores try luring shoppers with deep discounts, even to the extent of 85 percent sometimes.
Adobe Digital Index principal research analyst Tamara Gaffney said, “Online discounts are earlier and a lot bigger than last year.”
The figure collected by Adobe since November 1 is from 21 billion online visits to 4,500 US retail stores.
BJ’s Wholesale Club Inc chief executive officer Christopher Baldwin said Black Friday is no more a one-day event.