US E-Commerce Thanksgiving Weekend Spending Hits Record $29B
Thanksgiving weekend may have looked different this year but Americans were still eager to spend. Data presented by Buy Shares indicates that the United States e-commerce Thanksgiving weekend shopping revenue hit $29.6 billion. The revenue is from Cyber Monday, Small Business Saturday, Black Friday, and Thanksgiving.
Changing holiday traditions triggers e-commerce
Among the segments, Cyber Monday shopping was top at $10.8 billion. Black Friday shopping recorded the second-highest revenue at $9 billion while Thanksgiving revenue was $5.1 billion. Small Business Saturday recorded the least revenue at $4.7 billion.
This year's revenue has grown from 2019's by 20.32%. The 2019 revenue stood at $24.6 billion. Cyber Monday shopping also recorded the highest revenue at $9.4 billion, followed by Black Friday's $7.4 billion.
Thanksgiving revenue was $4.2 billion. Small Business Saturday revenue was $3.6 billion. The 2019 revenue represented a growth of 17.7% from 2018's revenue of $20.9 billion.
Cyber Monday revenue was highest at $7.9 billion, followed by Black Friday's $6.2 billion. Thanksgiving revenue was $3.7 billion, while Small Business Saturday stood at $3.1 billion.
The research highlighted some of the reasons behind this year's spike in e-commerce Thanksgiving revenue. According to the research report:
"The changing holiday traditions related to the pandemic might have contributed to the spike in Thanksgiving holiday e-commerce shopping revenue. With slowed traveling and restrictions, most people opted not to spend their time with their families. The money spent traveling could have been redirected to buying gifts for the family instead of visiting them.”
The full story, statistics, and information can be found here: https://buyshares.co.nz/us-e-commerce-thanksgiving-weekend-spending-hits-a-record-29-billion/
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