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What you need to know
- Adobe said that Americans were looking for discounts online during the holiday shopping season. Adobe also noted that demand is generally higher when prices are lower.
- Adobe stated that the discounts on apparel and electronics were quite generous. These two categories helped boost online sales. Overall spending online hit a record of $241.4 billion in November and December, according to Adobe's estimates.
- Adobe has said that more consumers shop on their smartphones and find products using chatbots that are generated by AI and influencers.
Online shoppers were set on saving money this holiday season, according to new data, but that didn't stop them from spending.
Adobe Analytics reported that Americans spent an unprecedented amount of money online over the holidays. Salesforce published a similar report, which summarized holiday shopping. Adobe estimates that online sales in November and December 2017 were $241 billion, an 8.7% increase over last year. Adobe noted that the estimate does not account for recent price deflation online, which would have made growth seem more dramatic.
Digital sales ticked up even though Americans are “increasingly price sensitive,” Adobe stated. Adobe said that retailers who reduced prices experienced a similar increase in demand. Along with furniture and home goods, categories that saw significant discounts—including electronics and apparel—drove more than half of online sales, Adobe said.
Customers Want Discounts for Big-Ticket Goods
Adobe says that big discounts for expensive products are what encourages people to shop online. The firm said the top sellers on its website include TVs and smart watches as well as accent chairs, bedding, Dyson hair-styling tools, and Dyson airwraps. The firm also said that Lego sets, Harry Potter dolls, Tonie audio player figurines, Mario, Spiderman, and Zelda games were popular.
Adobe has said that Americans buy more toys and other products on their smartphones. Influencers also play a larger role in getting consumers interested in brands. Adobe also said that retail stores are experiencing a surge in the number of consumers using generative AI chatbots. These bots allow users to search for products, track sales and receive recommendations.
“The 2024 holiday season showed that e-commerce is being reshaped by a consumer who now prefers to transact on smaller screens and lean on generative AI-powered services to shop more efficiently,” Vivek Pandya is the lead analyst for Adobe Digital Insights.
Adobe reported that shoppers often turn to the buy-now, pay-later (BNPL), or “buy now, get paid later” services to finish a transaction. They can access them via their mobile phone. BNPL is a service that allows customers to pay in installments and receive the item immediately. Adobe estimated that consumers spent over $18,2 billion on BNPL in November and December. Adobe reported a 9.6% rise from the previous winter.
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