U.S. holiday season consumer data released, online spending reached $221.8 billion

It is learned that according to foreign media reports, during the 2023 holiday season, huge discounts and installment payment options in categories such as electronics and clothing successfully stimulated the shopping desire of American consumers.

According to the latest data released by Adobe Analytics, between November 1 and December 31, 2023, US consumers spent approximately $222.1 billion online, a year-on-year increase of 4.9%, slightly better than the original expectation of $221.8 billion, setting a new historical record. In the 2022 holiday season, US online spending increased by 3.5% year-on-year.

Specifically, in November 2023, US consumers spent $123.5 billion online, a year-on-year increase of 6%. In December 2023, US consumers spent $98.6 billion online, a year-on-year increase of 3.7%.

BNPL is gaining popularity

Adobe data shows that BNPL usage reached an all-time high during the 2023 holiday season, contributing $16.6 billion to online spending, a year-over-year increase of 14% and an increase of $2.1 billion from the previous holiday season.

November was the highest month ever for BNPL usage ($9.2 billion, up 17.5% year-over-year), and Cyber ​​Monday was the highest day ever for BNPL usage ($940 million, up 42.5% year-over-year). In addition, BNPL drove $75 billion in online spending in 2023, up 14.3% year-over-year.

Discounts stimulate purchasing interest

Adobe data shows that discounts on online items hit an all-time high this holiday season. Electronics had the highest discount rate, reaching 31%. It was followed by toys (28%) and clothing (24%). Other categories also had strong discounts, including computers (24%), TVs (23%), appliances (18%), sporting goods (18%) and furniture (21%).

Vivek Pandya, principal analyst at Adobe Digital Insights, noted that retailers used strong discounts and flexible payment methods to attract holiday shoppers in response to the uncertain consumer environment, driving better performance in the just-concluded holiday sales.

Other trends worth noting

Mobile traffic surpasses desktop traffic: Mobile traffic reached a new milestone in the 2023 holiday season, accounting for 51.1% of online sales (compared to 47% in 2022). Among them, mobile traffic reached its peak on Christmas Day (December 25), accounting for 63% of online sales (61% in 2022).

Curbside pickup remains popular: Curbside pickup accounted for 18.4% of total orders during the 2023 holiday season, compared to 21% during the same period last year. Curbside pickup usage peaked between December 22 and December 23 (i.e., Christmas Eve), accounting for 36.8% of total orders.

Inflation is not a major factor: According to Adobe, the strong holiday season was driven by consumer demand, not higher item prices. According to the Adobe Digital Price Index (DPI), online item prices in the United States have been falling for a year (down 5.3% year-on-year in December 2023).

Editor ✎ Nicole/

Disclaimer: This article is copyrighted and may not be reproduced without permission.