Searching for back-to-school clothing and supplies will likely end in online sales this year. Adobe released numbers on Wednesday suggesting such online sales will reach nearly $57.8 billion for the first time this year, and Labor Day will be the first $2 billion ecommerce day in 2018.
The quarterly "Digital Dollar Report" is based on analysis of 1 trillion visits to more than 4,500 retail sites and 55 million product numbers. It uses Adobe Analytics to measure online transactions at 80 of the largest 100 U.S. web retailers to predict online shopping revenue, numbers for Prime Day, and the Q3 back-to-school season.
Barring any unforeseen events, political or otherwise, the third quarter will be the strongest growth quarter for ecommerce, said Taylor Schreiner, director of Adobe Digital Insights.
The data estimates ecommerce will grow nearly 20% year over year (YoY) as consumers look for end-of-season deals and wrap up back-to-school shopping.
Amazon might have invented Prime Day to raise awareness of its products and those sold by companies across its marketplace, but data suggests other retailers also capitalize on it. Large and small retailers see a “sizable spike” in sales.
While Prime Day spurs on consumers to buy from retailers large and small, “last year the middle-size retailers didn’t find an effect strategy to compete on that day,” Schreiner said.
He said that Prime Day kicks off online shopping growth for the third quarter. In fact, a 55% lift in online sales YoY was recorded during Prime Day among large retailers.
Despite the glitch Amazon experienced on Monday, the volume of people talking about the sales rose about 6% on social sites. A majority of the buzz centered on the Amazon employees’ dogs shown on the Prime Day error pages.
Stepping back to the second quarter of 2017, ecommerce had 14.6% YoY growth in the U.S., with a major spike around Memorial Day. Just under $2 billion at 19% YoY growth, Memorial Day is on-par with Thanksgiving Day as an emerging online shopping day, according to the report.
The data also shows that consumers spend more on Mother’s Day than Father’s Day.