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Online Spending In The U.S. To Increase 14.8 Percent This Holiday Season

According To Adobe Analytics, Spending Online in 2018 Will Reach New Heights

November 1, 2018

Now that Halloween has officially past, it time to start thinking about the upcoming holiday season. With Thanksgiving happening at this month, the gift giving season is right around the corner. That means it’s time to get out your wallets, as experts expect a 14.8 percent rise in spending in the U.S. this year.

The expected amount spent, according to Adobe Analytics, is upwards of $120 billion. This rise in spending shows an effect as many companies switch to online retail. Brick and mortar shops are only expecting a 2.7 percent rise in spending this year. This online trend has been growing, but this year is expected to reach new highs.

In a report released Thursday by Adobe Analytics, who runs analytics for Adobe Systems Inc., the company was able to break down certain spending categories, and why this jump in spending is expected. These numbers were found by measuring transactions of 80 to 100 of the top retailers in the country and trillions of customer visits to those company’s websites.

The report found that one variable for the increase in online spending is the extra day shoppers will get this year between Cyber Monday and Christmas. This extra day is expected to create $284 million in online sales. While customer spending last year saw an increase not seen in twelve years, this year is expected to reach new heights, with overall holiday sales expecting to see a increase of 4.3 percent to 4.8 percent from last year.

The report by Adobe Analytics also broke down which will be the best days for shopping based on product. For instance, Thanksgiving will be a good day to go buy sporting goods, with pricing expected to drop 13 percent lower than the average for the rest of the year. Black Friday remains the king of electronics with pricing expected to drop 22 percent. With this information, holiday shopping should be easier than ever.

Via Reuters