Top ETF Deals For This Holiday Season

The holiday season is off to a great start this year buoyed by a digital shopping boom. More Americans have turned to the Internet and a burst of online deals ranging from apparel to flat-screen TVs that led to a decline in traffic at brick-and-mortar stores.

Fast Recap of Thanksgiving Weekend & Cyber Monday

Per the latest data from National Retail Federation (NRF), more than 165 million Americans shopped in stores or online during the Thanksgiving weekend (from Thanksgiving through Cyber Monday), slightly higher than the pre-holiday prediction of 164 million consumers. Average spending per person over the five-day period was $313.29, with 69% going toward gifts. The biggest spenders were older millennials and Gen Xers (35-44 years old), who shelled out $413.05 on average.

The top destinations for shopping over the five-day period were department stores (42%), online retailers (38%), apparel retailers (30%) and grocery stores (30%). Cyber Monday was the most popular day to shop online, while Black Friday was the most popular day to shop in stores. Notably, per NRF, more than 89 million people shopped both online and in stores, up nearly 40% from last year.

According to Adobe Analytics, online sales jumped 28% to $3.7 billion on Thanksgiving Day and 23.6% to a record $6.22 billion on Black Friday, according to Adobe Analytics. This made Thursday the fastest-growing day for e-commerce sales in history and marked the first Friday after Thanksgiving Day in history to see more than $2 billion in sales from smartphones. About 33.5% of e-commerce sales came from mobile devices compared with 29.1% in 2017 thanks to social media sites such as Instagram, Snapchat and Pinterest. Cyber Monday sales also surged 19.3% to new highs of $7.9 billion. 

U.S. on Solid Growth Path

The American economy has been on a solid pace of growth with robust job creation, strong GDP growth, a 50-year low unemployment rate, the fastest pace of wage gains in nearly a decade, and rising consumer and business confidence. Although third-quarter GDP growth slowed to 3.5% from 4.2% in the second quarter amid growing headwinds from trade, they marked the best two-quarter stretch in four years. With this, the economy is on pace for the fastest annual growth in 13 years.

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