This article is from: srnnews.com
Sept 28 (Reuters) – US online sales will likely grow 6.7% this holiday season, nearly the same pace as last year, as promotions attract deal-seeking shoppers, Adobe Analytics forecast on Monday.
Higher household costs are turning shoppers more selective and value-seeking. Retailers, including Walmart, Kohl’s and American Eagle, have raised concerns on consumers’ spending capacity ahead of the key shopping period that drives end-of-year sales.
• Online November-December sales to grow to $275.1 billion from $257.8 billion a year earlier, Adobe Analytics forecast
• Discounts are expected to peak at 30% on Cyber Monday, with the deepest markdowns for electronics and computers; Black Friday is likely to offer the best deals on TVs, toys, apparel, appliances and furniture
• Cyber Monday likely to draw in the biggest spending at $15 billion — a 6.2% increase after last year’s 7.1%
• Black Friday online sales seen rising 9.2% to $12.9 billion, after last year’s 9.1% jump; Forecast for Thanksgiving online sales rise is 8.5%, up from 5.3% a year ago
• Adobe’s forecast is based on over 1 trillion visits to US retail sites, 100 million SKUs, and 18 product categories
(Reporting by Shania S Thomas and Neil J Kanatt in Bengaluru; Editing by Joyjeet Das)
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