Adobe: Online prices to be lowest on Thanksgiving Day
San Jose, Calif.-– Online prices are expected to hit rock bottom on Thanksgiving Day, lower than on any other day during the holiday season. According to the Adobe Online Shopping Report, record sales are expected for Thanksgiving with $1.35 billion and Cyber Monday with $2.6 billion, increases of 27 and 15%, respectively.
Black Friday will become the fastest growing online sales day of the year with 30% growth and $2.48 billon. In addition, an Adobe survey of more than 400 consumers who plan to spend at least some of their budget online shows that 35% of consumers expect to use their mobile wallets at physical store locations this year while 50% prefer online product ads tailored towards their personal interests.
Other notable data points include:
• Online sales will start the Monday before Thanksgiving. The largest single-day price drop (5%) will occur from Sunday to Monday before Thanksgiving. The average item will be 20% off during Thanksgiving week
• In-store prices will match online prices except for Black Friday store promotions and inventory clearance offers close to the holidays. Out-of-stock messages will increase five-fold on Cyber Monday due to increased demand and limited supply
• The average U.S. consumer will spend $248 online; $8 on Cyber Monday
• Thanksgiving will be the most mobile shopping day of year: 31% of online sales will be generated via smartphones and tablets, up from 21% in 2013. Mobile sales will total $418 million
• Mobile will also drive a 26% share on Black Friday, with total mobile sales of $644 million, and a 20% share on Cyber Monday, with total mobile sales of $520 million
• Two percent of purchases will come directly from social media sites including Facebook, YouTube, Pinterest and Twitter, which is flat compared to last year. Social continues to play a significant role earlier in the purchasing journey
Adobe’s forecast is based on the analysis of aggregated and anonymous data of more than one trillion visits to 4,500 retail websites during the last six years and 20 billion visits in Oct. 2014.
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