Online Holiday Sales To Hit Record $83 Billion, Mobile To Drive Majority Of Visits For First Time

by • October 30, 2015

Some big-name brick-and-mortar retailers have made the decision to stay closed on Thanksgiving Day, but that decision – nor all those Facebook pledges to not shop on the holiday – will make much of an impact on this year’s holiday season sales. It could be that consumers will just be shopping online, not in-store, as it turns out. According to recent forecasts, e-commerce sales are poised to hit record numbers in 2015, growing 11 percent over last year to reach $83 billion in sales.

Consumers may be vowing to spend more time with family on Thanksgiving, instead of rushing out to hit early sales, but that doesn’t mean they won’t be shopping. According to Adobe’s 2015 holiday sales forecast, announced this week, Thanksgiving Day will see the fastest growth for the second consecutive year, growing 18 percent year-over-year to reach $1.6 billion in online sales. Black Friday will reach $1.7 billion.

However, online, it’s Cyber Monday, not Black Friday, that still reigns supreme. This catch-up online shopping day where, historically, consumers picked up the items they weren’t able to snag in stores over the weekend, is expected to hit record numbers with $3 billion in sales – a 12 percent increase year-over-year.

What’s interesting about this year’s predictions is that shoppers will be more narrowly focused on a smaller number of products – Adobe reports that 76 percent of 2015 holiday sales will go toward just 1 percent of product SKUs. At the top of that list are electronics, which account for over half of the 1 percent of SKUs, and gift cards, which are second with 10 percent. Adobe notes that over 55 million SKUs were analyzed to determine these figures, and that typically, 65 percent of spend during the year goes to 1 percent of SKUs. That number climbs during the holidays as consumers seek deals on top gifts.

 

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Source: TechCrunch - Sarah Perez

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