Online holiday sales are expected to rise at the slowest rate since 2012, according to data released by Adobe. Here’s when the biggest discounts are expected to hit.
Sales at retailers fell flat in September, another sign that the economy is likely to slow in the coming months as interest rates rise and consumers pull back on spending. Retail sales are a major part of consumer spending.
To put that in context: Last year, online holiday spending rose by 8.6%. Consumers are uncertain about returning to physical stores due to lingering public-health concerns due to COVID-19, experts said, and hurting due to record-high inflation. Americans are expected to spend earlier this year, and take advantage of Amazon’s AMZN, -5.00% second Prime Day , Brown said. During the first Prime Day event in July, consumers spent $73.7 billion, up 21% on the year.
Adobe’s consumer-spending analysis covers over 1 trillion visits to U.S. retail sites, 100 million stock-keeping units, and 18 product categories. The report covers the 2022 holiday season, from Nov. 1 through Dec. 31, 2022. When sales are expected to hit The biggest discounts are expected to hit between Thanksgiving and Cyber Monday.