According to data released by cloud computing software company Salesforce on Thursday, in the first half of this year's Thanksgiving shopping period, online sales in the USA have increased by about 4%, compared to a 2% increase during the same period last year. This is a new sign that shoppers are embracing significant discounts from retailers. This year, US retailers have been offering bigger discounts earlier and increasing holiday promotions to attract more budget-conscious shoppers' attention.

Earlier this week, Best Buy (BBY.US) CEO Corie Barry stated that the electronics retailer expects a decrease in demand during the promotional period but the impact is larger than expected, echoing statements from Target Corporation (TGT.US) executives. Target executives mentioned that the response to this year's promotions has exceeded expectations.

Due to slowing sales, department stores like Kohl's Corp (KKR.US) and Macy's (M.US) are cautious about their annual forecasts, while Abercrombie & Fitch (ANF.US) and Gap (GAP.US) have raised forecasts due to strong market demand for fashionable clothing. Retail giants Walmart (WMT.US) and Amazon (AMZN.US) are also expected to benefit from this mixed holiday shopping season.

Based on salesforce data, the peak period for online shopping on Thanksgiving in the USA is expected to be between 7 PM and midnight Eastern Time, where it is anticipated that 35% of sales will be made. This estimate is derived from traffic patterns of thousands of online retailers.

Reports from the National Retail Federation (NRF) and Deloitte suggest that this year's holiday shopping season from Thanksgiving to Christmas is projected to grow at the slowest pace in six years.

According to Salesforce's report, online sales on Thanksgiving Day in the USA in 2023 amounted to 7.5 billion USD, a 1% increase from the previous year. On November 20, the company projected that the 'Cyber Week' global sales from Tuesday before Thanksgiving to the Monday after Thanksgiving would reach 311 billion USD. As per Adobe Analytics data, Thanksgiving is expected to be the best day for purchasing toys, appliances, furniture, and sporting goods.