Ecommerce: A strong 2023 US Thanksgiving weekend

That's in spite of a difficult economic situation

Image credit: Bing Image Creator/DALL.E and Canva

During the US Thanksgiving weekend, extensive discounts across various products led to a $38 billion online spending spree, suggesting a robust holiday shopping season despite economic uncertainty.

Here are a few key points:

• Over 200 million shoppers made purchases both in-store and online, marking a near 2% increase from the previous year. Online shopping saw a rise in shoppers, compensating for a minor decline in physical store visitors.

• Online consumer spending surged by 7.8% during Cyber Week, surpassing expectations.

• The average expenditure per consumer on holiday-related items slightly decreased compared to the previous year, averaging around $321.41.

• The "Buy Now, Pay Later" trend notably drove online spending, with BNPL purchases reaching a record $940 million on Cyber Monday. Klarna also reported a 29% increase in orders placed by US shoppers on Black Friday.