Holiday Shopping Shifts To E-Commerce: ETFs To Tap

With retailers having perked up their online deals early in October, the holiday season saw a gala start on an e-commerce bonanza. This is especially true, as the pandemic has pushed the holiday shopping season online this year, as large number of consumers want to avoid gatherings and maintain social distancing to contain the infection. Thanksgiving weekend, Black Friday and Cyber Monday demonstrate the growing popularity of online shopping and changing consumer habits.

Further, the positive developments on COVID-19 vaccine provided strong support to the holiday season.

Recap of Thanksgiving Weekend

Per the latest data from National Retail Federation (“NRF”), an estimated 186.4 million Americans shopped in-store and online during the Thanksgiving weekend (from Thanksgiving through Cyber Monday). Though it was down from $189.6 million last year, the figure was still significantly higher than the 165.8 million in 2018.

Online-only shoppers increased 44% during the weekend to 95.7 million. Black Friday and Saturday saw tremendous growth in online activity. For the first time, the number of online Black Friday shoppers passed the 100 million mark, up 8% from last year. The number of online Saturday shoppers grew 17% year over year. Over the five-day period, shoppers spent an average of $311.75 on holiday-related purchases such as gifts or decorations, down from last year’s $361.90 but comparable with 2018’s $313.29 (read: ETFs, Stocks to Click on for the Best Cyber Monday Deals).

Top gift purchases over the weekend included clothing (bought by 52% of those surveyed), toys (32%), books/music/movies/video games (29%), gift cards/certificates (29%) and electronics (27%). Shopping destinations included department stores (visited by 40% of those surveyed), grocery stores (39%), clothing stores (33%) and electronics stores (31%).

According to Adobe Digital Insights, overall e-commerce sales during the Thanksgiving weekend rose to $34.4 billion. Thanksgiving online shopping hit a record $5.1 billion, up 21.5% from last year while Black Friday online sales soared 22% to a record $9 billion. Small business Saturday and Super Sunday saw an increase of 30% and 23%, respectively, to $4.7 billion each. Cyber Monday brought in a record $10.8 billion in online spending, making it the biggest online shopping day in U.S. history.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any ...

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