🦃 Thanksgiving Sales Soar 7% to $15.6B – Keeping Up with Pre-Pandemic Levels! 🚀

The holiday shopping extravaganza kicks off with Thanksgiving weekend, marking the beginning of the crucial sales period for retailers. As we delve into the numbers, it seems that the e-commerce sector is poised for a successful holiday season, according to real-time data from Salesforce.

1. Global Online Sales Surging:

• Online sales have seen a 7% increase globally, translating to $15.6 billion in sales.
• In the U.S., online sales are up by 4%, generating $3.1 billion in revenue.

1. Slow Growth Compared to Last Year:
   Last year witnessed a lackluster Thanksgiving in terms of online shopping, with sales amounting to $31.7 billion globally and $7.5 billion in the U.S., up by only 1%.

2. Data Insights for 2024:
   Salesforce’s 2024 sales figures are compiled from data collected from 1.5 billion consumers through various channels like Commerce Cloud, Marketing Cloud, and Service Cloud.

3. Seasonal Promotions and Discounts:
   Amidst economic uncertainty, retailers are offering discounts averaging 24% globally and 27% in the U.S. to entice shoppers.

4. Mobile Shopping Takes Center Stage:
   Thanksgiving Day proves to be a pivotal day for mobile shopping in the U.S., with physical stores closed. Mobile transactions are expected to dominate, with 73% of all sales for the day happening on mobile devices.

5. Cyber Week Redefining Black Friday Tradition:
   Black Friday is no longer just a U.S. tradition, with global sales events incorporating Black Friday deals. The concept of Cyber Week, starting days before Thanksgiving, continues to gain traction.

6. Rise of Generative AI in Retail:
   Generative AI is reshaping e-commerce, with a 32% surge in retailers adopting digital agents and GenAI tools. The impact of these AI-driven technologies on sales conversions remains to be seen.

As we navigate through Cyber Week and beyond, the holiday shopping momentum is gaining traction, with online traffic and sales on the rise. Shoppers are eagerly seizing the best deals of the season, flocking to their favorite online platforms via mobile devices. It’s a remarkable time for e-commerce, as retailers continue to innovate and adapt to meet the evolving demands of modern shoppers.