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Behind the Numbers: an EMARKETER Podcast
Reimagining Retail: What This Year’s Thanksgiving Holiday Shopping Period Told Us | Dec 11, 2024
Dec 11, 2024
Zach Stambor, a Senior Analyst at eMarketer, dissected the trends from the recent Thanksgiving holiday shopping period. He highlighted the surge in e-commerce sales compared to in-store shopping, fueled by consumer preferences and economic factors. The discussion also explored how tariffs impacted big-ticket item purchases and the growing influence of Buy Now, Pay Later services, particularly on Cyber Monday. Additionally, they delved into the role of generative AI in enhancing retail experiences, shaping how consumers engage with online shopping.
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Quick takeaways
- This year's Thanksgiving shopping period saw a remarkable 14.6% increase in e-commerce sales, highlighting a shift towards online purchasing over in-store visits.
- The rise of Buy Now, Pay Later (BNPL) services indicated a strategic change in consumer spending habits, reflecting a cautious yet determined approach to budget management during sales events.
Deep dives
Increased Spending During Cyber 5
Shoppers displayed an increase in spending throughout the entirety of the Cyber 5, not limited to just Black Friday and Cyber Monday. Notably, retail sales excluding autos rose by 3.4% year-over-year, with e-commerce witnessing a significant jump of 14.6%. This reflects a broader trend where consumers are increasingly choosing online purchasing over in-store visits. The overall growth in e-commerce sales was strong enough to align with forecasts, indicating a robust retail season.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode