We all know that the holiday season in the US is also the best season when it comes to e-commerce because of the fact that there is a trend in the US that they spend most of their earnings during the holiday season that comes at the end of every year and splurge as much as they can in order to enjoy the holidays and gift to their loved ones. This is also the reason why you see a lot of sales during this period because even e-commerce platforms know that this will be the best time of year as far as revenue is concerned for them. Also, the fact that brick-and-mortar stores are mostly closed during this period as they also want to enjoy the holidays means that e-commerce absolutely thrives.
However, it has been a record-breaking year of spending for the e-commerce market this year as per a survey carried out by Adobe. Adobe Analytics has revealed that Americans spent a record $222 billion on online shopping this season which is an all-time high. This also goes to show the penetration of platforms like Temu and others in the US market recently and how they have been consistently taking away business from dollar shops in the US along with Amazon and Walmart being where they were already.
“The spending haul between November 1 and December 31 marks a 4.9% increase from the previous holiday shopping season, according to an Adobe Analytics report”. Adobe says that “Shoppers were enticed by deep discounts as well as Buy Now, Pay Later options”. Adobe also mentioned that “online shopping discounts hit record highs this holiday season, peaking at 31% off list price for electronics, compared with 25% in 2022. Toy discounts peaked at 28% (compared with 34% in 2022) and apparel peaked at 24% (compared with 19% in 2022)”. As per the report, it is worth noting that “The Adobe numbers are not adjusted for inflation. Online prices fell by 5.3% year-over-year in December, according to Adobe. That means the increase in spending this holiday season was driven by rising demand, not price fluctuations”. It was also revealed that “shoppers spent a record $12.4 billion online shopping on Cyber Monday alone.”
