rd sales in online retail to kick off holiday season
Cyber Monday and Black Friday saw online retail sales record breaking. This is the conclusion of Salesforce and Adobe Analytics reports, which differed in the exact amounts.
U.S. Cyber Monday online total sales
- Adobe – $11.3 billion – 5.8% increase over 2021
- Salesforce – $12.2 billion — An 8% Increase from 2021
U.S. Black Friday online total sales
- Adobe: $9.1 Billion — 2.3% Increase from 2021
- Salesforce $15 billion — A 12% increase over 2021
Salesforce reports that the total online U.S. sales between Thanksgiving and Cyber Monday was $67.5 billion. This is a 9% increase over last year.
Deeper: Holiday shopping requires marketers to be “always-on”.
What are the differences? Adobe measures purchases at 85% percent of the 100 largest U.S. online retailers. Salesforce measures purchases at 24 of the 30 top U.S. internet retailers.
Increased sales due to consumer demand. Adobe stated that consumers were responsible for the higher spending and not increased prices. This was based on the fact that online sales were flat in the three weeks before Black Friday. According to the company, this indicates that consumers are eager to shop for holidays, despite uncertainty in the economy.
Discounts may have also helped. Salesforce reported that the average discount was 30%. This is 7% more than last year.
More proof. Mastercard SpendingPulse tracks all types of spending including cash, credit cards and other payments. Black Friday sales increased by 12% compared to a year ago, according to Mastercard SpendingPulse. Online sales increased 14% while sales at physical stores increased by 12%
Why do we care? According to old sayings, God or the Devil are in the details. All sources agree that Thanksgiving weekend saw a rise in consumer spending. This is a positive sign for the holiday season. Adobe claims this indicates more consumer demand. However, other analysts claim that sales were roughly the same last year after accounting for inflation. Retailers won’t be upset if this is the worst month for sales.
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