Sunday, November 16, 2014

Analysts: Hottest Online Deals Are Before Black Friday 2014

A customer uses "Savings Catcher" in Walmart's mobile app.  

Photo Credit: Walmart

Online retail prices are expected to be the lowest before Black Friday, according to Adobe's 2014 Digital Index Online Shopping Forecast.  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 last month alone.

The Forecast predicts that online discounts on Thanksgiving Day will hit rock bottom on Thanksgiving Day, lower than any other day during the holiday season with an average discount of 24 percent.  

The largest single-day drop in prices (five percent) is predicted to occur from Sunday to Monday before Thanksgiving.  Online prices are expected to increase on Tuesday after Cyber Monday.  

“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.”

Record sales of $1.35 billion are expected on Thanksgiving Day, a 27 percent increase over last year. Sales on Cyber Monday are predicted 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.  

In total, online holiday shopping is expected to increase 10 percent year-over-year with the average U.S. consumer spending a total of $248 online over the same period, with $8 on Cyber Monday, the largest online shopping day of the year.