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As the holiday season approaches, Adobe (ADBE) predicts that deep discounts and the rise of mobile shopping will drive U.S. online spending to a record $240.8 billion this year.
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This number is an 8.4% increase from 2023, when consumers spent $221.8 billion from November 1 to December 31.
A key driver of this growth is mobile shopping, with this season being described as the “most mobile ever” as consumers embrace convenience and flexible payment options such as “buy now, pay later” (BYPL). Adobe said.
The company predicts a shift in consumer behavior as deep price cuts encourage shoppers to buy more expensive items, such as electronics, appliances and sporting goods. Electronics and toys are expected to see maximum discounts of 30% and 27% respectively, while TVs will see record discounts of 24% and sporting goods will be 20% off.
Vivek Pandya, principal analyst at Adobe, said consumers are starting to “trade in” previously high-priced items and that these discount patterns are “resulting in a significant shift in shopping behavior,” which is likely to lead to “U.S. “This will lead to accelerated growth for retailers,” he said.
The important Cyber Week shopping period, which includes Thanksgiving, Black Friday, and Cyber Monday, is expected to generate $40.6 billion in sales, or about 17% of the total holiday sales. Adobe says bargain-hunting shoppers should plan to purchase items during this period, as it offers the “deepest discounts.”
Consumers can expect early sales starting in mid-October to coincide with Amazon’s (AMZN) second Prime Day event and Walmart’s (WMT) discount event, setting the stage for a lively e-commerce environment. You can
Additionally, social media influencers are playing an increasingly important role in driving purchases. Adobe has found that influencers convert shoppers 10 times more effectively than traditional social media channels. Generative AI is also expected to play a big role this holiday season, as shoppers use chatbots to find the best deals, search for specific products, and find brand recommendations.
This holiday season is shaping up to be not only a record time for online shopping, but also a transformative time as consumers take advantage of discounts and digital platforms to make the most of their holiday budgets. there is.
The company’s analysis is based on Adobe Analytics data, covering more than 1 trillion visits to US retail sites and 100 million SKUs across 18 product categories.
