Mobile devices make Thanksgiving the third largest online shopping day of the year
Thanksgiving day was the third largest online shopping day of 2018 with $3.68 billion in sales tallied, according to data compiled by Adobe Inc. and eMarketer. Cyber Monday was the number one online shopping day with $7.87 billion, and Black Friday was number two with $6.22 billion. EMarketer attributes the surge to mobile devices. Midway through the season, Adobe data showed that mobile shopping would hit a "landmark," with shoppers using their always-present devices to shop during their free time. The data shows that smartphones accounted for 51% of holiday digital shopping visits, and 31% of e-commerce sales. The SPDR S&P Retail ETF is down 7.8% for the past three months, the Amplify Online Retail ETF has gained 3.4% for the period, and the S&P 500 index has slipped 0.8% in the last three months. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.