Economy

Adobe: Record $1.5bn spent on Thanksgiving afternoon

Adobe: Record $1.5bn spent on Thanksgiving afternoon

You didn't have to get off the couch on Black Friday 2017 to get the best deals.

Additionally, an increasing proportion of these sales are happening online.

Adobe Insights, which measures 80 percent of online transactions at 100 major USA retailers, said 61.1 percent of shoppers' visits to retailers' websites on Thanksgiving stemmed from mobile devices, including smartphones and tablets, CNBC reported.

Black Friday follows Thanksgiving Day that is observed on the fourth Thursday of November, heralding the Christmas shopping season. Conversion rates across all devices saw double-digit growth, with tablets at 5.9%, up 13%, and smartphones at 3.5%, up 16.5%.

With many more retail chains saying their locations would remain closed on Thanksgiving, that day witnessed a huge boost in online sales, up $0.94 billion or 18.3% to $2.87 billion, surpassing Adobe's own prediction of $2.79 billion. That's an increase from 27 percent on the same day a year ago.

And this is only the start, as online holiday spending is expected to reach $107 billion in sales - that's a 14 percent increase over 2016, reports CNBC.

More news: Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Search has become a top driver for retailers, according to the data.

General consensus among the industry that physical retail performance-especially for big box retailers-was rather tepid.

Brian Field, ShopperTrak's senior director, said that there had been an important amount of debate surrounding the shifting importance of brick-and-mortar retail.

"The whole idea of Black Friday and Cyber Monday.is becoming less relevant as the consumer is generally accustomed to great deals, or at least getting a deal", Josh Elman, a consumer and retail analyst with Nasdaq Advisory Services, told Business Insider.

Retail analytic firm ShopperTrak said that preliminary data indicate a 1.6 percent decline in foot traffic to retail stores on Thanksgiving Day and Black Friday, although the decline on Black Friday was less than 1 percent.

Second, a record-breaking day of sales on Thanksgiving Day reveals the increasing irrelevance of Black Friday as a single day of sales.


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