The US online holiday sales will hit $209.7 billion from Nov 1 to Dec 31, representing 2.5% growth year-over-year (YoY), Adobe has predicted in a new report. As per the company, $204.5 billion was spent online (growing 8.6% YoY) during the 2021 holiday shopping season.
Adobe claims that consumers are expected to spend earlier this year, as a second Prime Day (Oct. 11-12) kicks off before the holiday season begins. The first Prime Day event drove record online sales for the retail industry overall, with $73.7 billion spent in July (up 20.9% YoY). These discounts will entice some consumers to start their shopping sooner, impacting Cyber Week performance, said the report. The holiday season will also be impacted by an uncertain economic environment, as shoppers contend with elevated prices offline (food, gas, housing) and the rising cost of borrowing, the report added.
As per the report, Cyber Monday is expected to remain the season’s and year’s biggest shopping day, driving a record $11.2 billion in spending, increasing 5.1% YoY. By comparison, Black Friday online sales are projected to grow by just 1% YoY at $9 billion, while Thanksgiving sales are set to fall to $5.1 billion, down 1% YoY. Adobe expects Cyber Week (Thanksgiving to Cyber Monday) will bring in $34.8 billion overall, up 2.8% YoY. This represents a 16.3% share of the full season, down from 16.6% in 2021.
Adobe expects electronics to drive $49.8 billion of online spending, up 2.9% YoY. Heavy discounts will impact margins and spending but attract enough shoppers to maintain growth, as per the report.
Holiday season discounts
Adobe expects that discounts will hit record highs (upwards of 32%) this holiday season. Computers, electronics and toys will hit all-time highs, as per the company. Discounts for computers are expected to be as high as 32% (up from 10% in 2021), while electronics discounts are set to hit 27% (up from 8%), and toys at 22% (up from 19%). Other discount categories will include televisions at 19% (vs. 11% in 2021), apparel at 19% (vs. 13%), appliances at 18% (vs. 4%), sporting goods at 17% (vs. 6%) and furniture & bedding at 11% (vs. 2%).
According to the report, the biggest discounts are expected to hit between Thanksgiving and Cyber Monday. Thanksgiving Day (Nov. 24) will be the best day to shop for electronics, while Black Friday (Nov. 25) will have the best deals for televisions. That Saturday (Nov. 26) will have the biggest discounts for toys, with the best deals for apparel and sporting goods arriving on Sunday (Nov. 27). Those looking to buy a computer or furniture should shop on Cyber Monday (Nov. 28), and appliances will see top discounts on Dec. 1, said the report.
Adobe claims that consumers are expected to spend earlier this year, as a second Prime Day (Oct. 11-12) kicks off before the holiday season begins. The first Prime Day event drove record online sales for the retail industry overall, with $73.7 billion spent in July (up 20.9% YoY). These discounts will entice some consumers to start their shopping sooner, impacting Cyber Week performance, said the report. The holiday season will also be impacted by an uncertain economic environment, as shoppers contend with elevated prices offline (food, gas, housing) and the rising cost of borrowing, the report added.
As per the report, Cyber Monday is expected to remain the season’s and year’s biggest shopping day, driving a record $11.2 billion in spending, increasing 5.1% YoY. By comparison, Black Friday online sales are projected to grow by just 1% YoY at $9 billion, while Thanksgiving sales are set to fall to $5.1 billion, down 1% YoY. Adobe expects Cyber Week (Thanksgiving to Cyber Monday) will bring in $34.8 billion overall, up 2.8% YoY. This represents a 16.3% share of the full season, down from 16.6% in 2021.
Adobe expects electronics to drive $49.8 billion of online spending, up 2.9% YoY. Heavy discounts will impact margins and spending but attract enough shoppers to maintain growth, as per the report.
Holiday season discounts
Adobe expects that discounts will hit record highs (upwards of 32%) this holiday season. Computers, electronics and toys will hit all-time highs, as per the company. Discounts for computers are expected to be as high as 32% (up from 10% in 2021), while electronics discounts are set to hit 27% (up from 8%), and toys at 22% (up from 19%). Other discount categories will include televisions at 19% (vs. 11% in 2021), apparel at 19% (vs. 13%), appliances at 18% (vs. 4%), sporting goods at 17% (vs. 6%) and furniture & bedding at 11% (vs. 2%).
According to the report, the biggest discounts are expected to hit between Thanksgiving and Cyber Monday. Thanksgiving Day (Nov. 24) will be the best day to shop for electronics, while Black Friday (Nov. 25) will have the best deals for televisions. That Saturday (Nov. 26) will have the biggest discounts for toys, with the best deals for apparel and sporting goods arriving on Sunday (Nov. 27). Those looking to buy a computer or furniture should shop on Cyber Monday (Nov. 28), and appliances will see top discounts on Dec. 1, said the report.
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