Holiday Sales Predicted To Break New Record Even Though Cyber Week Growth Is Slowing

Holiday growth predictions for the biggest shopping holidays

According to Adobe’s Holiday Shopping Forecast, US online holiday sales is going to reach a new record, $207 billion, from November 1 to December 31. This is up 10% year over year, a growth rate after a year where they pandemic cause a massive majority of people towards using e-commerce.

As you can see from the chart above, major shopping holidays are losing steam. Although Cyber Monday is expected to drive $36billion in online spending, growth has slowed, coming in at 5% year over year.

More stats from the report:

  • U.S. consumers will pay 9% more on average during Cyber Week this year, compared to the last holiday season.
  • Out-of-stock messages are up 172% vs. pre-pandemic period (Jan 2020); and up 360% vs. Jan 2019.
  • Online revenue from Buy Now Pay Later (BNPL) this year has been 10% higher than 2020 and 45% higher than 2019. Shoppers are also using BNPL for less expensive orders, with the minimum order value dropping to $225 (a 12% decrease YoY).

Source – Search Engine Land

Leave a Comment

Your email address will not be published.