Adobe reports online sales after Thanksgiving Day on course to reach over $200 billion



Adobe Analytics is tracking online spending in November and December. Data collection began after Thanksgiving Day and online sales were reported to be $5.1 billion. The firm also said that it expected an over $200 billion revenue mark to be reached in holiday sales.

The data reported by Adobe for Thanksgiving Day was below expectations as it reached the lower end of the estimate. Adobe had estimated Thanksgiving Day sales to be between $5.1 billion and $5.4 billion. The day’s sales was similar to the amount spent on Thanksgiving Day 2020. The firm also mentioned that this year’s sales figures were approximately 21 percent higher than the sales on the same day, in 2019.

Adobe has also predicted that spending on Black Friday, 2021 should be between $8.8 billion and $9.6 billion. The company said that sales on the same day last year was $9.03 billion and was $7.43 in 2019.

Adobe Analytics has also predicted that the overall online holiday season sale should top $207 billion. It is predicting that sales will reached the highest ever, to date and will see a 10 percent increase year over year.

The National Retail Federation said that overall holiday shopping including both online and stores is expected to reach an all time high. The federation estimates that the combined sales figures could be between $843.4 billion and $859 billion. This indicates that there could be an 8.5 percent to 10.5 percent increase in spending.

Sales forecast do not include spending that happen at automobile dealers, at gas stations and at restaurants.

Last week, the retail trade group said that many customers might have shopped earlier as many deals have appeared earlier than usual this year. Some shopping, especially for popular items that customers believe would run out of stock manly due to supply chain issues, might have happened before Thanksgiving Day.

Due to the pandemic and early offers by several stores, Black Friday sales this year might not see long lines of predawn shoppers waiting to grab early deals at stores. However, a huge amount of shopping is still expected to take place on Thanksgiving weekend.

Follow us on Google news for more updates and News

Full Disclaimer



Get the most important breaking news and analyses for Free.

Thank you for subscribing.

Something went wrong.