Thanksgiving 2023 E-Commerce Report: Steady Growth Amid Economic Caution
Key Takeaways from Thanksgiving Day Online Sales
- U.S. consumers spent $5.6B online (5.5% YoY growth)
- Global online sales reached $31.7B (1% YoY growth)
- Mobile shopping hit record highs ($3.3B spent via smartphones)
- Discounts drove purchases (averaging 28% off retail prices)
The State of Holiday E-Commerce
Thanksgiving has solidified its position as the digital kickoff to the holiday shopping season. While stores remain closed, online retailers capitalize on this downtime with strategic sales events. This year’s data reveals cautious consumer behavior with modest growth across key metrics.
By the Numbers: U.S. vs. Global Performance
Adobe Analytics Reports:
- $5.6 billion in U.S. online sales (5.5% increase YoY)
- Mobile sales surged 14% to $3.3 billion (new Thanksgiving record)
Salesforce Data Shows:
- $31.7 billion in global online spend (1% increase YoY)
- $7.5 billion from U.S. shoppers (1% growth)
- Average order value rose marginally to $119 (1% increase)
Emerging Shopping Trends
The Mobile Shopping Revolution
- Evening dominance: 59% of online sales occurred via mobile devices
- Traffic share: Mobile accounted for 82% of U.S. site visits
- Payment innovation: Apple Pay transactions grew 47% YoY
Social Media’s Growing Influence
While social platforms drove 13% of traffic referrals (Instagram, TikTok, Snapchat), most conversions still happen on retailer sites. This highlights the evolving role of social commerce in the customer journey.
Discount Strategies Driving Sales
Retailers amplified promotions to combat economic hesitancy:
- Average discounts: 28% deeper than 2022
- Top discounted categories:
- Toys (182% sales increase from October)
- Electronics (113% sales increase)
Flexible Payment Options Gain Traction
Buy Now, Pay Later (BNPL) services facilitated $390 million in sales (7.5% YoY growth), demonstrating continued consumer demand for payment flexibility.
What This Means for the Holiday Season
Adobe predicts the full Cyber Week (Thanksgiving through Cyber Monday) will generate \(37.2 billion in online sales, representing 16.8% of total holiday e-commerce. Black Friday alone is projected to drive \)9.6 billion (5.7% YoY growth).
“Cyber Week is off to a strong start with Thanksgiving driving record mobile spending,” noted Vivek Pandya, Adobe Digital Insights lead analyst. “Consumers are strategically leveraging discounts while embracing mobile shopping during gatherings.”
Methodology Notes
- Adobe’s data set: Analyzes 1 trillion U.S. retail site visits across 18 product categories
- Salesforce’s insights: Draws from 1.5 billion global consumer profiles
These modest growth figures reflect broader economic trends, with inflation and consumer caution tempering what might otherwise be more dramatic holiday spending increases. As Black Friday data emerges, we’ll gain clearer insight into whether Thanksgiving’s steady performance indicates the season’s overall trajectory.
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