2017.11.2402:20:00UTC+00U.S. Online Sales Jump as Shoppers Splurge on Thanksgiving Eve

American shoppers has spent over $1.52 billion online by Thanksgiving evening, and more bargain seekers came to stores this year following two weak holiday seasons as retailers opened their doors early on Black Friday.

At the beginning of the holiday season, consumer spending increased 16.8 percent year-over-year until 5 pm ET on Thursday, Adobe Analytics reported. This accounts for 80 percent of online transactions at top 100 retailers in the country.

For the last two years, the solid traffic in online stores and a transition from traditional store shopping has reduced the crowds usually seen at stores on Thanksgiving evening and Black Friday for the last two years.

However, a solid labor market, increasing home prices and record-high stock markets have stoked shopper appetite this year.

The National Retail Federation is November and December sales to increase 3.6 percent to 4 percent this year, against a 4 percent increase in the previous year. Non-store sales, which covers online sales, are anticipated to increase 11 percent-15 percent to around $140 billion.