Tuesday, November 5, 2024

Online Shopping Poised For Gains During The Holidays

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Online digital sales are expected to grow during the holiday, a new report from Adobe said.

Online sales during the forthcoming holiday shopping season could hit a new all-time high driven largely by consumers buying products on their mobile devices.

A new forecast fromĀ Adobe based on its Analytics data, said U.S. online sales will be $240.8 billion during the holidays, up 8.4% year-over-year. In 2023, shoppers spent $221.8 billion online during the holidays, up 4.9% over the previous year. Shopping onĀ mobile devices is expected to contribute a record $128.1 billion, up 12.8% year-over-year. This dollar figure would represent a 53.2% share of online spend this holiday season.

ā€œThe holiday shopping season has been reshaped in recent years, where consumers are making purchases earlier, driven by a stream of discounts that has allowed shoppers to manage their budgets in different ways,ā€ says Vivek Pandya, lead analyst, Adobe Digital Insights. ā€œThese discounting patterns are driving material changes in shopping behavior, with certainĀ  consumers now trading up to goods that were previously higher-priced and propelling growth for U.S. retailers.ā€Ā 

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