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Thanksgiving Online Spending Will Hit $2 Billion for the First Time

Christmas Shoppers Hit The High Streets Across the UKChristmas Shoppers Hit The High Streets Across the UK

Online spending this Thanksgiving is off to a good start for retailers.

Spending online is expected to hit a record $2 billion on Thursday, November 24 within the United States, which would be a nearly 16% increase from last year, according to Adobe (ADBE).

Similar to previous years, mobile shopping is also off to strong start as more consumers are purchasing items via their smartphones. Based on Thanksgiving spending to date, estimated at $336 million, consumers will spend a record $820 million shopping via iPhone, iPad, and Android phones and tablets. The average order value on Apple (APPL) devices is estimated at $144, which is higher than that of Android devices at $119 per purchase.

Consumers have spent $27.2 billion online in the month of November. Shopping ramped up on Wednesday, the day before Thanksgiving, with shoppers spending $1.57 billion online, up 19% year-over-year. So far, 22 out of 23 days this month so far exceeded $1 billion in sales, also a first for the season.

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Currently, top selling items include Apple iPad (AAPL), Samsung 4K TVs (SSNLF), Sony PlayStation 4 (SNE), Legos, and Shopkins, a popular childrens’ toy.

For more, read: Here Are the Best Black Friday Deals for Tech; Here Are the Best Cyber Monday Deals for Tech; This Carrier Is Bringing Back Its Free iPhone 7 Deal for Black Friday; Apple Is Holding a Black Friday Shopping Event

The question is whether these record numbers will extend into Black Friday, the Friday after Thanksgiving, as well as Cyber Monday, the Monday after Thanksgiving.

Forrester estimated that consumers will spend a record-breaking $112 billion online in November and December, a jump of 13% from the $99 billion spent in the same period in 2015.

So perhaps it will be a very Merry Christmas for online retailers this year.