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Mobile drove Thanksgiving spending to a record high


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US consumers spent a record $3.7 billion on Thanksgiving this year, driven primarily by mobile-commerce (m-commerce), according to data from Adobe, cited by TechCrunch.

app phone grocery shopping Stephan Savoia/AP

Thanksgiving was the first day this year where $1 billion in sales was completed on smartphones.

 

Mobile devices played an instrumental role in traffic and sales volume this year. Smartphones contributed to more than 50% of online traffic to retail sites and 36.7% of sales. Desktop was the main method, accounting for 52.8% of sales.

 

And as the holiday season progresses — and spending increases— a wider share of sales than ever is expected to be transacted online: Sales are expected to reach $124 billion in US e-commerce during the season, up 14.8% annually.

 

Beyond the holiday season, m-commerce is expected to continue to play a larger role in the overall e-commerce space in the US: Business Insider Intelligence expects US m-commerce payment volume to grow from $105 billion last year to an estimated $387 billion in 2023.

 

But friction in the mobile checkout process inhibits consumers from spending over mobile. Though m-commerce is popular, cart abandonment has been a major concern this year: Adobe highlighted that $4.3 billion worth of goods will be abandoned in shopping carts on smartphones.

 

That's likely due to existing friction in the m-commerce checkout experience: More than half of consumers surveyed in a Forrester study don't make purchases on phones because it's less "cumbersome" to enter payment information on computers.

 

Further, nearly one-third of consumers find that mobile device screens are still too small to navigate the checkout process. This highlights the need for more solutions designed to streamline the mobile checkout so that retailers don't miss out on growing consumer spending.

 

 

There are currently a number of buy buttons from the major card networks that don't require consumers to reenter payment and shipping credentials for every purchase, but they've caused crowding on checkout pages and ultimately confusion for consumers.

 

Firms that are able to develop solutions that address the friction in m-commerce — and cart abandonment, in particular — will be able to grab share of a major opportunity for volume.

 

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While "Thanksgiving was the first day this year where $1 billion in sales was completed on smartphones. ", Chinese people spent over $26 Billion in a day on AliBaba's Singles Day 😂

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