US Thanksgiving online sales up 4%, with strong demand for electronics and trendy apparel.

From Investing.com: 2024-11-28 16:35:38

Online sales in the U.S. during the first half of the Thanksgiving holiday rose by about 4%, compared to a 2% increase last year, signaling that shoppers are taking advantage of discounts from retailers. Best Buy and Target reported stronger demand than expected, while department stores like Kohl’s and Macy’s are cautious about sales forecasts.

Abercrombie & Fitch and Gap have raised their forecasts due to strong demand for trendy apparel, while Walmart and Amazon are expected to benefit from the holiday shopping season. The peak online shopping window is expected to be between 7 p.m. and midnight EST on Thanksgiving, accounting for 35% of sales.

This year’s holiday shopping season is projected to grow at its slowest pace in six years, according to reports from the National Retail Federation and Deloitte. Salesforce reported $7.5 billion in online sales on Thanksgiving Day in the U.S. in 2023, a 1% increase from the previous year.

Salesforce forecasts that Cyber Week will generate $311 billion in global sales. Thanksgiving is anticipated to be the best day to shop for toys, appliances, furniture, and sporting goods, according to Adobe Analytics data.



Read more at Investing.com: US Thanksgiving online sales up about 4% so far this year, data shows By Reuters