The 2024 E-commerce Sales Landscape
Global Online Spending Reaches New Heights
The Thanksgiving week and Black Friday have proven to be a remarkable period for e-commerce, with spending rates exceeding previous records. According to Adobe Digital Insights data published by TechCrunch, global online spending on Thanksgiving Day reached $33.6 billion, while Black Friday in the US witnessed record spending of $10.8 billion, a 10.2% increase compared to last year.
A Comparative Analysis of E-commerce Growth
Salesforce estimates that total spending in the US stood at $17.5 billion, representing a year-on-year increase of 7%, and global spending reached $74.4 billion, a growth of 5% compared to 2023. In contrast, during Black Friday 2023, Adobe reported spending of $9.8 billion in the US, and Salesforce placed global spending at $70.9 billion.
Global Momentum and Regional Dynamics
E-commerce Growth Trends
Although global growth may be moderate, in part due to the regional significance of Black Friday, the 6% to 8% increase in e-commerce during the third quarter of 2024 reported by the US Census Bureau reflects a sustained trend.
A Principal Analyst’s Perspective
Vivek Pandya, Adobe Digital Insights Principal Analyst, remarks, «Crossing the $10 billion mark is a major e-commerce milestone for Black Friday, a day that was historically focused on in-store shopping. The convenience of mobile shopping and tools like chatbots are underpinning this growth».
Featured Black Friday 2024 Trends
Key Insights into the E-commerce Landscape
- Mobile Shopping on the Rise: 55% of online spending came from mobile devices, representing $5.9 billion and a year-on-year increase of 12.1%.
- Impact of Discounts: Gift categories led growth thanks to significant discounts, up to 27.8% in Toys; up to 27.4% in Electronics; and 24.2% in Televisions.
- The Rise of Chatbots: The use of chatbots on retail sites experienced exponential growth of 1,800% compared to last year. According to an Adobe survey, 20% of consumers used chatbots to search for offers and recommendations.
Notable Shopping Statistics
Peak spending on Black Friday promotions reached $11.3 million per minute between 10 a.m. and 2 p.m. Salesforce’s 2024 figures are based on purchasing data from 1.5 billion consumers, while Adobe’s data is based on 1 billion visits tracked to US retail sites.