Adobe Data Shows Best Holiday Deals Available Before Black Friday
Adobe data predicts online prices will hit rock bottom on Thanksgiving Day, lower than any other day during the holiday season. Record sales of $1.35 billion are expected on Thanksgiving Day, a 27 percent increase over last year. Sales on Cyber Monday are forecasted to be $2.6 billion, an increase of 15 percent. Black Friday is predicted to be the fastest growing online sales day of the year at $2.48 billion, an increase of 28 percent. And what will consumers be buying? Social media buzz for Apple’s iPhone 6 and 6+, Sony’s PlayStation 4, Fitbits and Disney’s ‘Frozen’ dolls are driving early interest. Adobe’s Online Shopping report is the most comprehensive compilation of data in the industry. The forecast is based on the analysis of aggregated and anonymous data of more than one trillion visits to 4,500 retail websites over the last six years and 20 billion visits this October alone. In addition, more than $7 out of $10 spent online with the top 500 U.S. retailers are measured by Adobe Marketing Cloud. The tremendous volume of data Adobe collects has enabled the company to successfully predict spending on Thanksgiving and Cyber Monday within one percent in previous years, the most accurate forecast of its kind.
“Consumers will be able to get the best deals this year if they shop online on Thanksgiving Day,” said Brad Rencher, senior vice president, Digital Marketing at Adobe. “Smartphones and tablets continue to drive more and more sales online, which will lead to new sales records on Thanksgiving Day, Black Friday and Cyber Monday. With over 30 cents on the dollar spent via mobile devices, Thanksgiving Day will surpass Black Friday as the most mobile shopping day ever recorded.”
Additional findings include:
Best Deals: Online prices are expected to be lowest on Thanksgiving Day with an average discount of 24 percent. The largest single-day drop in prices (five percent) will occur from Sunday to Monday before Thanksgiving. Online prices are expected to increase on Tuesday after Cyber Monday. In-store prices are expected to match online prices except for specific in-store promotions on Black Friday and inventory clearance offers close to the holidays. Out-of-stock messages will increase five-fold on Cyber Monday due to increased demand and limited supply.
Social Media: Two percent of purchases will come directly from social media sites including Facebook, YouTube, Pinterest and Twitter, which is flat compared to last year. Social continues to play a significant role earlier in the purchasing journey. According to an Adobe survey of more than 400 U.S. consumers, only 25 percent of them will consult social media to help them make holiday purchase decisions while 40 percent of 18 to 34 year olds are likely to check social networks for gift ideas.