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Record Thanksgiving online sales online as spending tops US$4 billion

Holiday shoppers spend a record US$4.2 billion in online spending for Thanksgiving yesterday, a 14.5 per cent increase on the day’s performance last year.

Online shopping topped US$4 billion for Thanksgiving. (Photo:pymnts.com)

The top selling products for consumers included Frozen 2 merchandise, Fire TVs, Apple laptops and the popular American football video game, Madden 20.

Heading into the day, projections by Adobe Analytics put online sales estimates US$4.4 billion; while falling just short of estimates, it still marked the first time sales topped US$4 billion for the Thanksgiving sales online in the United States.

Retailers are expected to make another US$7.5 billion for Black Friday today.
(Photo: Yahoo News)

Additionally, retailers in the US are expected to net another US$7.5 billion at the close of today’s annual Black Friday sales event. As at 7:00AM, figures by Adobe out purchases at US$767 million.

The online analytic group has projected that holiday spend will surpass US$140 billion by the time Christmas rolls around, a 14.1 per cent growth over last year. For context, that increase would be achieved with six fewer days than the traditional sale period which begins today. To make up for lost time, many retailers have opted to start sales earlier.

E-commerce shopping will pass US$140 this holiday season . (Photo: cmo.adobe.com)

The figures generated by Adobe were mined from data of more than one trillion visits to US –based retail websites and on analysis of more than 55 million unique products.

Also important to note is that the fresher, increasing more popular Cyber Monday, is  expected to generate record online sales of US$9.4 billion come December 2. In total, Adobe estimates that Cyber Week online sales will account for 20 per cent of total revenue this holiday season.

Online retail sales for the month stood at just under US$60 billion, up to yesterday, November 28.

Adobe predicts that every day in November and December will see online spending surpass US$1 billion.