Adobe Analytics predicts a record $240.8 billion in online sales for the 2023 holiday season, driven by mobile shopping growth and significant discounts. Cyber Monday is expected to remain the peak shopping day, with deep discounts throughout Cyber Week.
Big discounts and the continued growth of mobile shopping are expected to fuel $240.8 billion in online sales this holiday season, Adobe said this week.Shopping on mobile devices is expected to hit a new milestone, jumping 12.8% from last year for an estimated $128.1 billion this holiday season.
Adobe's holiday shopping forecast, based on an analysis of a trillion visits to online retail sites, includes 18 product categories such as electronics and toys. “The 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,” Vivek Pandya, lead analyst for Adobe Digital Insights, said in a news release. “These discounting patterns are driving material changes in shopping behavior, with certain consumers now trading up to goods that were previously higher-priced and propelling growth for U.S. retailers.
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