(TND) — With deep discounts and the continued growth of mobile shopping, online sales are expected to reach $240.8 billion this holiday season, Adobe announced this week.
Adobe’s online holiday shopping forecast predicts 8.4% year-over-year growth.
Shopping on mobile devices is expected to reach a new milestone this holiday season with an estimated $128.1 billion, an increase of 12.8% from last year.
Adobe expects Cyber Monday to continue to be the biggest online shopping day of the year. And the biggest discounts of up to 30% off will be available during Cyber Week.
Adobe’s holiday forecast is based on an analysis of 1 trillion visits to online retail sites and includes 18 product categories, including electronics and toys.
According to Adobe, discounts on electronics are expected to peak at 30% (31% in 2023) of list price, and discounts on toys will reach 27% (28%).
Discounts of 24% on TVs and 20% on sporting goods are expected to be the highest ever.
Other categories with significant discounts include apparel at 23%, computers at 23%, furniture at 19%, and consumer electronics at 18%.
“The holiday shopping season has changed shape in recent years, with a series of discounts encouraging consumers to shop sooner and giving shoppers more control over their budgets,” said Vivek Pandya, Principal Analyst at Adobe Digital Insights. It became like that.” News release. “These discount patterns are driving significant changes in shopping behavior, leading some consumers to trade on previously higher-priced items and driving growth for U.S. retailers.”
More shoppers are expected to use buy now, pay later options, with Adobe forecasting an 11.4% annual increase.
Social media influencers drive people to shop 10 times more than social media overall.
And artificial intelligence will continue to be a part of the holiday shopping season.
Adobe says traffic to retail sites from chatbots powered by generative AI has doubled so far this year.
