Holiday shopping in US generates USD 126 BN revenue in 2018

  •  United States of America
  •  Mar 30, 2019
  •  By WFB Bureau
Holiday shopping in US generates USD 126 BN revenue in 2018

Online holiday shopping in US generated a revenue of US $ 126 billion last year, according to the report ‘Adobe Digital Insights Holiday Recap 2018’.

The revenue in the 61-day period starting from November 1 to New Year’s Eve was up by 16.5 per cent as against the corresponding period in 2017. The graph has been picking since 2016, thanks to the strong consumer confidence.

The report highlighted that the daily sales averaged US $ 2.1 billion in the holiday season compared to the averaged daily sales of US $ 1.8 billion in 2017. Also, out of the 61 days, on 26 days the daily sales accounted for more than US $ 2 billion. In 2017, the number of days that exceeded US $ 2 billion mark were 15.

In another statistic, the online revenue growth during holiday continues to outpace the overall retail growth, that is 16.5 per cent online growth compares to 4.5 per cent overall growth.

The 5-day weekend between Thanksgiving and Cyber Monday showed its dominance over the complete holiday season. The period generated US $ 24.2 billion in sales, noticing a rise of 23 per cent over last year.

Thanksgiving generated US $ 3.7 billion, up by 27.9 per cent; Black Friday with US $ 6.2 billion revenue, up by 23.6 per cent; and Cyber Monday with US $ 7.9 billion, up by 19.3 per cent broke sales records during the stretch.

The concept of BOPIS (Buy Online Pick Up In Store) orders also saw a boom during the holiday season with 47 per cent YoY increase from November 1 to December 19.

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