Thanksgiving in the United States on Thursday marked the commencement of the holiday shopping season, with consumers and online retailers engaging in a digital commerce dance. Despite the anticipation, TechCrunch reported that this year’s Thanksgiving sales convey a message of steadiness rather than an explosive growth surge.
Adobe Analytics, estimates online spending in the US on Thanksgiving reached $5.6 billion, reflecting a modest increase of 5.5% compared to the previous year. Mobile devices stand out with around $3.3 billion spent on Thanksgiving Day, marking a substantial 14% increase and an all-time record. Adobe Analytics projected a total online spend of $37.2 billion over a five-day period, representing a year-on-year growth of 5.4%. Black Friday is predicted to contribute $9.6 billion to the sales tally. The 5.5% growth rate reported this year is an improvement over last year’s less than 4% increase, but pales compared to growth rates before the pandemic. Inflation and consumer spending concerns are a major influence on spending surge.
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