The Thanksgiving weekend, traditionally the start of the holiday shopping season, is shaping up to be a strong one for e-commerce, with sales soaring in 2024. According to real-time tracking by Salesforce, online sales on Thanksgiving Day hit a record $33.6 billion globally, marking a 6% increase from the previous year. In the U.S. alone, online sales reached $8.1 billion, a rise of 8% compared to last year, further boosting optimism for the upcoming holiday season.
E-Commerce Surge Continues
Salesforce’s findings highlight positive growth across several markets. Europe also experienced notable growth, with sales increasing by 10%. Meanwhile, Adobe, which focuses on U.S. sales, reported an increase of 8.9% in U.S. online shopping, with total spending amounting to $6.1 billion, up from $5.6 billion last year. These figures indicate a strong rebound from the more sluggish growth seen during Thanksgiving 2023, when online sales grew just 1%.
The two companies track e-commerce in different ways: Adobe’s numbers are derived from over 1 trillion visits to U.S. retail sites, while Salesforce gathers data from 1.5 billion consumers across its Commerce Cloud, Marketing Cloud, and Service Cloud. Both firms noted the increased reliance on discounts to drive sales, with the average U.S. discount sitting at 27%, indicating that retailers are working hard to attract bargain-hunting shoppers.
Mobile Shopping Dominates
A standout trend this year is the continued rise of mobile shopping. As more consumers turn to their phones while relaxing at home or spending time with family, mobile sales have become a significant force. Salesforce reports that a whopping 72% of all online orders on Thanksgiving were made via mobile devices, up 3% from 2023. Mobile also accounted for 80% of all online traffic, remaining steady compared to the previous year.
Adobe, on the other hand, reported that 59.5% of U.S. online sales on Thanksgiving were made via mobile, with sales growing 10.5% compared to last year. This shift is particularly noticeable on a day when many physical stores remain closed, making mobile the most convenient shopping option for consumers looking to grab deals.
Cyber Week Expands
The holiday shopping season has extended well beyond just Black Friday, with a shift towards Cyber Week, which now includes sales events that start days before Thanksgiving. Salesforce noted that Tuesday of Thanksgiving week marked the beginning of this shopping surge, with a 7% global sales increase and a 14% rise in the U.S. compared to the same day last year.
The Role of Generative AI in E-Commerce
E-commerce is also seeing the impact of emerging technologies, particularly Generative AI. Salesforce revealed a 32% increase in the use of digital agents and Generative AI by retailers in the past week alone. While this suggests that AI-powered shopping experiences are gaining traction, the exact impact on sales and customer satisfaction remains to be seen. As retailers explore new ways to leverage AI, the question remains whether these innovations can meaningfully improve conversion rates or simply add to the clutter of online shopping experiences.
Looking Ahead
The 2024 Thanksgiving Day sales figures provide a positive outlook for the remainder of the holiday shopping season. As consumers flock to their favorite e-commerce sites via mobile devices, it’s clear that online retail is continuing its upward trajectory. With discounts, mobile shopping, and new technologies like Generative AI playing key roles, retailers are positioning themselves for a successful Cyber Week and beyond.
As Caila Schwartz, Director of Consumer Insights at Salesforce, noted, “Holiday shopping momentum is building throughout Cyber Week, with online traffic and sales on the rise. After waiting all year for the best deals of the season, shoppers are finally ready to make their holiday purchases.” The trend of online shopping, especially on mobile, looks set to continue throughout the holiday season, making 2024 a pivotal year for e-commerce growth.