Thanksgiving Day Serves Up the Web’s Lowest Prices
The best online prices this holiday season won't be on Black Friday or Cyber Monday. In fact, Adobe data predicts that online prices will be at their lowest on Thanksgiving Day.
Adobe’s 2014 Digital Index Online Shopping Forecast predicts that the average discount of prices on Thanksgiving Day will be 24 percent. That said, the largest single-day drop of prices (five percent) will occur from Sunday to Monday before Thanksgiving, with online prices expected to then increase on the Tuesday after Cyber Monday.
When it comes to sales totals for the holiday season’s biggest shopping days, Adobe predicts that Thanksgiving Day will see an increase of 27 percent this year, with sales totals coming in at $1.35 billion. Comparatively, Cyber Monday sales are forecasted to increase 15 percent to $2.6 billion, while Black Friday sales are expected to increase 28 percent, coming in at $2.48 billion.
“Consumers will be able to get the best deals this year if they shop online on Thanksgiving Day,” said Brad Rencher, senior vice president, Digital Marketing at Adobe. “Smartphones and tablets continue to drive more and more sales online, which will lead to new sales records on Thanksgiving Day, Black Friday and Cyber Monday. With over 30 cents on the dollar spent via mobile devices, Thanksgiving Day will surpass Black Friday as the most mobile shopping day ever recorded.”
Other noteworthy stats reveal that out-of-stock messages will increase five-fold on Cyber Monday due to increased demand and limited supply. Moreover, the months of November and December are expected to drive more than 27 percent of the total annual online sales for U.S. retailers, and online holiday shopping is expected to increase 10 percent year-over-year. The data also shows that the average U.S. consumer will spend a total of $248 online during November and December.
When it comes to mobile shopping, Adobe found that Thanksgiving is expected to be the most mobile shopping day of the year, with 31 percent of all online sales being generated via smartphones and tablets, which is up 21 percent from last year and a new record. Conversely, mobile devices are predicted to make up 26 percent of online sales on Black Friday and 20 percent on Cyber Monday.
Adobe’s study also took a look at the influence of social media this holiday season, revealing that 2 percent of purchases will come directly from social media sites like Facebook, YouTube, Pinterest and Twitter. That said, social likely plays a more significant role earlier in the purchasing journey. In fact, a different Adobe study of 400 U.S. consumers revealed that 25 percent will consult social media to help them make holiday purchase decisions, while 40 percent of 18 to 34 year olds are likely to check social networks for gift ideas.