Online spending surged 8.7% during the holiday season, with a total of $241.4 billion spent due to deep discounts and AI chatbots playing a significant role in enhancing the shopping experience.
Adobe's analysis revealed that deep discounts were pivotal, with every 1% reduction in typical prices leading to a corresponding 1% increase in demand, culminating in an extra $2.25 billion spent online.
According to Adobe's Digital Price Index, online prices have consistently decreased for 27 months, suggesting that while demand spiked due to pricing strategies, overall consumer spending may be even higher when adjusted for inflation.
Vivek Pandya noted that consumers are strategically timing their purchases of nonessential goods during sales events, a trend he referred to as 'event-ized buying', indicating a shift in consumer behavior.
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