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Good morning, Marketers, how did Black Friday turn out for your brand?
Between November 1 and November 23, U.S consumers spent $72.2 billion online, representing 19.8% growth YoY, according to Adobe Analytics data. The significant growth shows that consumers started shopping earlier this year, which might have helped to alleviate some of the supply chain challenges that threaten to bottleneck revenue for retailers.
Of the top three e-commerce shopping days, Thanksgiving was positioned to be the top gainer, according to eMarketer, which cited smart-phone driven “couch commerce,” early Black Friday promos and Thanksgiving day closures at physical locations for many big box retailers. Thanksgiving day sales were predicted to reach a new record, between $5.1 billion and $5.9 billion, according to Adobe.
That having been said, Cyber Monday (today) is still expected to remain the biggest shopping day of the year (as it has been every year since 2010) with $11.3 billion in sales, according to Adobe, which is also a new record. While eMarketer agrees it’ll still be the number one shopping day, its growth has slowed, underperforming last year’s benchmark — 15.6% compared to the holiday season’s 32% growth rate.
How have consumer shopping patterns changed for you this Cyber Week? Is what you’re experiencing lining up with the predictions? Let me know at [email protected] (subject line: Retail therapy).
George Nguyen,
Editor
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