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Adobe Digital Economy Index has shown consumers spent $14 billion online during Thanksgiving and Black Friday combined. The results are broken down with $8.9 billion of online sales occurring on Black Friday and $5.1 billion on Thanksgiving Day. This marks the first time where both days did not see an increase in online spending over last year, showing that consumers started to shift their spending to earlier in the season.
The other top concern for consumers discussed by Schreiner is inflationary pricing which may impact holiday shopping especially in the apparel category where deals are not as strong as they are in electronics and toys. Schreiner said, “Supply chain challenges and overall inflation have put pressure on retailers to constrain discounts to maintain profit margins.” Discounts across all categories for Thanksgiving are down less this year than they were last year.
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