E-commerce spending by US consumers on Thanksgiving Day will climb to a record,
Adobe Analytics estimated consumers spent as much as $5.4-B online Thursday, it said in an e-mailed statement, lowering the top end of its range from $5.9-B.
America’s shoppers, who started their purchases earlier in the month went online as many more retailers closed their brick and mortar stores for Thanksgiving day.
Shoppers spent at a pace of at least $3.5-M per minute on Thanksgiving, Adobe said.
The US retail industry has entered the busiest shopping season of the yr with the inflation rate at a 31yr high.
This holiday shopping season is characterized by inflation, lesser discounts, and and some product shortages. But it is very noteworthy that US online spending has already posted over $75-B to date in November.
Online Spending Has Surged 20% This Month in US, Adobe says.
Have a prosperous weekend, Keep the Faith!