Online sales in the US on the Thanksgiving holiday are expected to rise 6 percent compared with last year to reach $8.6 billion, data from Salesforce showed on Thursday, suggesting shoppers were lapping up steep discounts from retailers to splurge amid tariff-induced macroeconomic uncertainty.
As of 2 p.m. ET (1900 GMT), Thanksgiving spending in the US was 5.8 percent higher than at the same time last year, reaching $2.6 billion, the data showed.
Thanksgiving and the day after, Black Friday, usher in the holiday shopping season, a critical stretch that typically delivers about a third of US retailers’ yearly sales and profits.
This year’s kickoff comes amid economic uncertainty and heightened volatility from President Donald Trump’s tariffs on imported goods, which have raised costs for both retailers and consumers.
Latest results from American retailers have shown that shoppers are willing to buy gifts, electronics, clothes and more on good discounts, despite weak consumer sentiment overall.
Global spending has reached $13.1 billion so far on Thanksgiving, and digital sales are expected to reach $36 billion globally by the end of Thursday, Salesforce data showed.
Black Friday, which is the biggest day of the year for online shopping, is expected to drive $78 billion in online global sales and $18 billion in the US, according to Salesforce, a cloud-based software company.
Earlier this week, electronics retailer said its computers, laptops and smartphones on discount were in demand among holiday shoppers while clothing retailers Gap and Abercrombie & Fitch also seemed upbeat.
Several holiday sales forecasts projected this year’s holiday season would be muted, with Mastercard data suggesting sales would be driven by promotions as consumers seek value for their money.
Salesforce in September projected US online sales growth during the 2025 holiday season would slow from last year, with online spending between November 1 and December 31 expected to rise 2.1 percent to $288 billion, versus a 4 percent increase to $282 billion in the same period last year.
By Prerna Bedi, Sriparna Roy
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