Stock Groups

Online sales Thanksgiving weekend on track to top $200 billion, Adobe says

Shoppers arrive in King of Prussia early on Black Friday, and people take the elevator.

Rachel Wisniewski | Reuters

The holiday season’s online spending is expected to surpass $200 billion, although Thanksgiving sales are below projections according to Adobe Analytics data. This company tracks sales of consumers on retailer websites.

According to Adobe, Thanksgiving Day sales online reached $5.1 billion. Adobe says this is roughly the same amount as Thanksgiving spending last year. According to the company, it’s a 21% increase over that of 2019.

Adobe predicted that e-commerce spending would be between $5.1 billion to $5.4 billion. However, it was below the range. The company expects total online sales this season to hit $207 billion — a 10% year over year increase and all-time high.

These results have raised questions over whether the holiday market will grow as expected or if Thanksgiving is losing its importance, as people continue to buy Christmas gifts all year. Retailers are encouraging shoppers to shop early in order to prevent out-of stock and delays during a year with supply chain problems.

Holiday shopping overall — both online and in stores — is also expected hit an all-time high of between $843.4 billion and $859 billion of salesAccording to the National Retail Federation, this would be an 8.5% or 10.5% increase. This forecast does not include spending at gasoline stations, automobile dealers and restaurants.

Online spending on Black Friday is expected to total between $8.8 billion and $9.6 billion, according to Adobe. This compares to $9.03 Billion in 2020, and $7.43 Billion in 2019, according to Adobe.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.