With Thanksgiving quickly becoming the "new Black Friday," a report by Adobe predicts record growth for online sales on Thanksgiving Day. Compared to last year, $1.1 billion will be spent online on Thanksgiving and $1.6 billion will be spent on Black Friday, increases of 21 and 17 percent, respectively. Researchers added that these figures suggest Thanksgiving will overtake Black Friday in online sales within the next five years.
The report, titled Adobe Digital Index 2013 Online Shopping Forecast, estimates that despite there being only 27 shopping days between Thanksgiving and Christmas this season, compared to 33 last year, the holiday shopping season will see higher online sales as customers rush to get their shopping done in a shorter time frame. This year's calendar has the shortest shopping season since 2002, which the report estimates could equate to up to $1.5 billion lost in potential sales overall.
Retailers are aware of the shorter season, and have already begun to aggressively go after holiday sales. More stores are planning Thanksgiving Day openings and will offer massive sales online and limited-time deals that have been creeping up from Cyber Monday to Black Friday and onto Thanksgiving. Furthermore, there is expected to be a surge of shoppers using their mobile devices to make purchases, which Adobe predicts will increase 47 percent versus last year. The average retailer can expect 14 percent of mobile-driven online revenue, a 40 percent boost compared to last year.
The forecast also notes that although there will be strong sales for Thanksgiving weekend, Cyber Monday (Dec. 2) is expected to still lead this year by bringing in $2.27 billion in sales, a 15 percent increase from last year.
For more see:
This Adobe press release
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