"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, lead analyst at Adobe Digital Insights, stated. This evolution highlights the shift towards mobile shopping and the integration of advanced technologies in the retail experience.
The five days from Thanksgiving to Cyber Monday alone brought in more than $41 billion in online purchases, up 8.2% year over year, with Cyber Monday being "the season's and year's biggest online shopping day, driving $13.3 billion in spend, up 7.3%," according to Adobe. This demonstrates the growing significance and volume of e-commerce during the holiday shopping period.
Discounts drove sales throughout the season, particularly on higher-priced items like electronics and appliances. Adobe found that demand rose 1.03% for every 1% price cut, which drove $2.25 billion of the season's overall online spend, further illustrating the impact of strategic pricing on consumer behavior.
Grocery (up 12.9% to $21.5 billion) and cosmetics (up 12.2% to $7.7 billion) saw the strongest growth in online holiday spending, reflecting increased willingness alongside an evolving consumer preference for convenience in shopping for everyday products online.
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