November online spending up only 0.1% heading into Black Friday

by Administrator
3 replies
  • |
A new article on reports that inflation is high and unemployment is low. So no one is really sure what consumers will do during the holiday shopping season.

Online shoppers spent $64.59 billion for the first three weeks in November -- a 0.1% increase from the same period last year, according to Adobe Analytics data released today. During that time there were nine days with sales of more than $2 billion.

A silver lining

Adobe says the fact that spending hasn't dropped from 2021's pandemic-boosted levels indicates consumers are heading into the holiday shopping season in the mood to spend. "Ecommerce has remained resilient thus far per Adobe Analytics, a strong start to the season," the report said.

Total sales expected to rise. The company said it expects total online sales for November and December to be $209.7 billion this year. That's up 2.5% from 2021 when sales rose 8.6%, and far below 2020, when they were up 32.2%.

Cyber Week

Cyber Week -- the five days spanning from Thanksgiving to Cyber Monday -- is expected to bring in $34.8 billion in online spending, a 2.8% increase from last year. That would be 16.3% of November-December spending.

Cyber Monday

The day we all go back to work is again expected to be the year's biggest online shopping day, generating a record $11.2 billion in sales. If that holds, it would be a 5.1% increase from last year. In 2021 consumers spent $10.7 billion on Cyber Monday, a 1.4% drop from 2020. Total Cyber Week spending that year also slipped 1.4% to $33.9 billion.

Black Friday is less important. With holiday shopping and sales now spread out over two months, Black Friday isn't as important to online shoppers. It is expected to see $9 billion in online sales, up 1% from last year, while Thanksgiving Day is expected to be down 1%, at $5.1 billion.

The company bases its analysis on over a trillion visits to U.S. retail sites, covering 100 million SKUs and 18 product categories. Adobe will be updating its Holiday Shopping Trends and Insights report throughout the season.
#01% #black #friday #heading #november #online #spending
Avatar of Unregistered
  • Profile picture of the author Kay King
    The article was written before those sales days.

    After the fact, Black Friday sales were up 2.3% and cyber monday sales were 11.3 billion, up almost 6% over last year. Financial experts credit the steep discounts offered this year...but also have warned for a month that much of the shopping is being done on credit. In the US credit card debt rose 15% in the third quarter...not a good sign in a shaky economy. The sales to worry about are those in 2023 perhaps.

    The discounts this year on large items are deep. My Atlanta son bought a new gas range at Lowe's. $2199 in October when he first looked at it.....he bought it for $900 end of November. Lowe's had its standard November sales of 30% off on appliances...but quite a few of the high end products were 50% off...or more.
    Saving one dog will not change the world - but the world changes forever for that one dog.
    Be Yourself - Everyone Else is Already Taken
    {{ DiscussionBoard.errors[11738237].message }}
  • Profile picture of the author blooo
    the marketing cost also increase
    {{ DiscussionBoard.errors[11738443].message }}
  • Profile picture of the author Kay King
    In the end both Black Friday and Cyber Monday showed some slight increases over previous years. NOW the same 'experts' predicting sales would be down are worrying that much of the purchasing is being done on credit cards.

    That is probably a more valid concern. Credit interest rates are rising and many dept stores/big box stores have already raised their credit rates to the max 36% or so. Could it be the 2023 crisis will be 'credit card debt'....seems like the cycle just goes round and round.
    Saving one dog will not change the world - but the world changes forever for that one dog.
    Be Yourself - Everyone Else is Already Taken
    {{ DiscussionBoard.errors[11738469].message }}
Avatar of Unregistered

Trending Topics