Press release
Adobe Forecasts $221.8 Billion U.S. Holiday Season Online, Cyber Monday To Top $12 Billion
Mobile shopping set to overtake desktop for the first time, as consumers get increasingly comfortable transacting on smaller screens Discounts expected to
About this update from Adobe Inc.
[{"type":"text","content":"\n\nMobile shopping set to overtake desktop for the first time, as consumers get increasingly comfortable transacting on smaller screens\n\n\n\nDiscounts expected to hit record highs this season, peaking at 35% off listed price for toys, 30% for electronics and 25% for apparel\n\n\n\nBuy Now, Pay Later usage set to drive a record $17 billion in online spend, as consumers look for flexible ways to manage their budgets\n\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nToday, Adobe (Nasdaq:ADBE) released its online shopping forecast for the 2023 holiday season, covering the period from Nov. 1 through Dec. 31, 2023. Based on Adobe Analytics data, the analysis provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories. Adobe Analytics is part of Adobe Experience Cloud, relied upon by over 85% of the top 100 internet retailers in the U.S.* to deliver, measure and personalize shopping experiences online.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231005143372/en/(Graphic: Business Wire)\nAdobe expects U.S. online holiday sales to hit $221.8 billion this holiday shopping season (Nov. 1 to Dec. 31), representing 4.8% growth year-over-year (YoY). In the 2022 season, shoppers spent $211.7 billion online, and saw 3.5% YoY growth. Never-before seen discounts, and the increased usage of the Buy Now, Pay Later (BNPL) flexible spending method, which is expected to drive $17 billion in online spending (vs. $14.5 billion in 2022, up 16.9%), will drive spending this season as consumers look to stretch their budgets when making purchases. Additionally, shopping on mobile devices is expected to hit a major milestone, surpassing desktop and driving over half (51.2%) of all online spending this season.\n\n\nCyber Week – the shopping period including Thanksgiving, Black Friday and Cyber Monday – is expected to drive $37.2 billion in online spending, up 5.4% YoY and representing 16.8% of the holiday season. Adobe expects Cyber Monday will remain the season’s and year’s biggest shopping day, driving a record $12 billion in spending, up 6.1% YoY. Black Friday online sales are set to grow by 5.7% YoY to $9.6 billion, with Thanksgiving growing 5.5% YoY to $5...