America’s top retailers reported strong sales last quarter, and retail analysts believe the trend will continue on Black Friday and throughout the holiday season.
So far, so good: Online shopping between Wednesday through 5 p.m. ET Thursday has totaled $4.15 billion according to Adobe Analytics data, surpassing last year’s total spend for the same time period.
Americans so far have spent $1.75 billion on Thanksgiving Day, an increase of 29% year-over-year. Adobe projects online sales to hit a new record of $3.7 billion – up from the $2.9 billion spent on the same day in 2017.
Wednesday, the day before Thanksgiving when retailers ramp up their Black Friday sales, was also another record breaking day. Sales increased 32% over last year to $2.4 billion. Adobe says yesterday was the first day in online shopping history to have half of visits to retailer websites come from mobile.
“Mobile stole the show Thanksgiving Day with smartphones representing more than 50% of traffic to retail sites, as well as record amount of revenue,” Taylor Schreiner, director of Adobe Digital Insights said in a statement.
“As consumers turn their focus to Black Friday, we expect them to take full advantage of the many discounts available, driving new records for online sales.”