Online sales during the 2022 holiday shopping season could hit $209.7 billion, according to data from Adobe Analytics.
from Adobe Analytics, though the number represents the slowest pace of growth since 2015 due to expected record high discounts as companies contend with stock surpluses and spenders worried about inflation.The projected $209.7 billion in sales from November 1 to December 31 represents just a 2.5% increase from the same period during 2021 as major discounts are expected to cut into sales and as some shoppers also choose to return to stores as the Covid-19 pandemic eases.
Discounts for computers could reach as high as 32%, up from 10% in 2021, while price cuts for electronic products overall could hit 27%, up from 8% last year, according to Adobe’s forecast, which is based on data from 85% of the top 100 e-commerce retailers. Other major potential discounts include toys , televisions , apparel and appliances . Discounts are expected earlier than usual this year, with price cuts of 15% on average expected as soon as the second week of October, while the largest deals will be offered between Thanksgiving and Cyber Monday, Adobe said.
Major sales days like Black Friday and Thanksgiving are “losing prominence,” Adobe said, noting sales on Thanksgiving day are predicted to fall 1% from the year before, as online shopping becomes a more daily activity for U.S. consumers and as companies offer broader discounts throughout the full holiday season.$590 billion. That’s how much consumers have already spent on total online purchases this year, up 8.9% from the same period the year before, according to Adobe.
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