Holiday season e-commerce in the U.S. - statistics & facts
The last two months of the calendar year are known as the season of giving, and with good reason: this is when gift purchasing reaches an annual high. In the United States, online holiday retail sales in 2024 were set to reach over 280 billion dollars, with the most money spent on Cyber Monday, which has become the biggest online shopping day in the U.S. With so many attentive shoppers expecting deals, and competitive retailers looking to attract consumers and grow their brands, bargains can be found online throughout the entire month of November leading up to both Black Friday and Cyber Five – the five-day period from Thanksgiving Day to Cyber Monday.
However, social media is not the only channel impacting what holiday shoppers buy online. In 2024, 28 percent of holiday shoppers planned to use generative AI to find product deals, and 18 percent planned to use it to navigate online stores and make purchases. With gen-AI continuing to grow in popularity, more consumers may seek answers from bots about what to buy during the giving season.
‘Tis the e-commerce season
Like several other industries, the retail sector has witnessed a major digital transformation over the past decade. This gradual shift shows seasonal trends and is especially evident during the last quarter of the year, as an increasing number of U.S. consumers frequent online stores to find the perfect gift for themselves or their loved ones. When asked about their plans for holiday gift shopping in 2024, most consumers expressed their plans to make purchases primarily on the internet. A survey conducted in the same year revealed that the leading reason to shop online for the holidays was to avoid large crowds in stores, while the most important aspect of holiday e-commerce was the offer of free shipping. As for the websites they planned to use most, three-fourths of U.S. e-shoppers named Amazon as their go-to platform.The lure of social media
As a result of the last quarter of the year usually being the most profitable period for retailers, early advertising has proven to be instrumental in tapping into shoppers' buying potential. In 2023, just over half of U.S. shoppers began their holiday gift shopping before December. With about 13 percent of total shoppers and 20 percent of Gen Z shoppers planning to use social media to purchase their holiday gifts, it is undeniably a high-powered reach channel for marketers. Gen Z shoppers’ purchase decisions specifically were most influenced by content on TikTok, YouTube, and Instagram.However, social media is not the only channel impacting what holiday shoppers buy online. In 2024, 28 percent of holiday shoppers planned to use generative AI to find product deals, and 18 percent planned to use it to navigate online stores and make purchases. With gen-AI continuing to grow in popularity, more consumers may seek answers from bots about what to buy during the giving season.
