Adobe Expects Record U.S. Holiday Online Shopping This Year

Dow Jones
Sep 28
 

Adobe expects online shopping to hit record levels this holiday season, as consumers chase deals earlier and stock up on essentials.

The company's analytics division on Monday projected $275.1 billion in U.S. online sales between Nov. 1 and Dec. 31, up 6.7% from the same period last year.

Adobe expects Cyber Monday to remain the biggest online shopping day of the season, forecasting $15.1 billion in a single day of sales, or up 6.2% year over year. The company projects Black Friday sales will grow at a stronger clip, up 9.2% to $12.9 billion, due in part to having the biggest discounts on categories like TVs, apparel and appliances.

Adobe said consumers continue to shop for the holidays earlier, with Amazon's Prime Day sales event in October driving further discounts across U.S. retailers well ahead of November. Adobe expects online spending to hit $95.8 billion in October, up 8% year over year.

The company also expects consumers to stock up on essentials during holiday deals, projecting online sales of personal hygiene products will more than double-and clothing basics will more than triple-during Cyber Week.

The firm said its forecasts are based on more than 1 trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories.

 
 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10