Thanksgiving Day Sales Soar Above $1 Billion

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Online sales racked up to over $1.15 billion on Thanksgiving Day. According to data analyzed from 21 billion visits to retail websites released by Adobe Systems Inc., the aforementioned online sales tally is 13.6 percent higher compared to last year’s numbers during the holiday season.

$449 million of the total revenue came from mobile devices. Further breaking the numbers down, $322 million of the mobile devices sales came via smartphones and $127 million thru tablets—58.6 percent more compared to the previous year. To see the figures more clearly, purchases made from mobile phones comprise 39 percent of Thursday’s revenue.

“Mobile has become a standard in the American household, and Thanksgiving has become the day where consumers “shop on the sly,” as nearly a quarter of people we surveyed said they use mobile devices so they aren’t obvious to friends and family at the dinner table,” said Adobe Digital Insights principal analyst and director Tamara Gaffney.

The remaining amount— $702 million—in online sales was produced by desktops.

And the surge in the number of online purchases is likely due to shoppers’ attempt to avoid terrible scrambles that usually happen during these times.

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According to Adobe, Thanksgiving Day profits are still on the run for hitting, or at least coming close to, $2 billion. Its analysis revealed that between November 1 and November 22, shoppers spent a total of $25.6 billion online, higher by 3.5 percent in comparison to the same period a year ago.

Despite the large numbers, revenue growth for Thanksgiving Day may lag due to heavy discounting in the early hours of Thanksgiving Day, discounts on tablets, televisions, toys and pet-care items were all bigger as compared to last year’s prices.

Shoppers keen on sales have seen discounts for tablets averaging 25.1 percent compared to last Thanksgiving’s 12.2 percent. Tablets and toys are the most discounted retail purchases. The average markdown for toys reached 16.8 percent—a double of last year’s discount. Appliances also averaged 5.7 percent higher in price decreases compared to the previous year, with televisions inching 6.9 percent and videogame consoles with 5.6 percent.

Brick-and-mortar retailers like Wal-Mart Stores Inc. have been making serious attempts to tap the growing number of e-commerce patrons, while Amazon.com Inc. started offering deals prior to the widely celebrated holiday.

The numbers are isolated to online sales only. Physical retail store revenues haven’t been tallied yet.

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Author: exocapitalfinancepro

As the dissemination of online financial news gets easier through the evolution of different media platforms, Exo Capital Finance Pro brings the most comprehensive up-to-date financial information right in front of your eyes. In line with the mission of Exo Capital Market, this news blog aims to provide the financial ideas needed by the clients through the market news and analysis delivered regularly. Exo Capital Mission Grounded on financial stability and service efficiency, Exo Capital Markets Ltd. hopes to stimulate and drive innovation in the world by catering the needs of its clients. Committed to guiding its clients to achieve their maximum potentials, the company seeks to lead and bring growth into the market through the high quality services it provides. Exo Capital Vision Exo Capital Markets Ltd. strives to become the leading financial services firm by offering its clients with the most modern solutions in the industry. The company wants to create an avenue of knowledgeable and competent traders by assuring accountability and honesty in delivering the services we provide for the community.

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