Online prices drop to 41-month low! Americans love to shop online for bargains!

It is learned that Adobe recently released the latest inflation data for the US online retail market. According to the Adobe Digital Price Index (DPI), US online prices fell 4.6% year-on-year in September 2023, hitting the lowest level in 41 months. At the same time, this is the 13th consecutive month that inflation data has fallen year-on-year.

On a month-on-month (MoM) basis (compared to July), online prices fell slightly by 0.6% in September 2023. Overall, online prices in the United States continue to run at a low level.

The price decline in September was driven by non-essential categories, including home appliances (down 7.6% year-on-year, down 1.7% month-on-month), electronic products (down 11.9% year-on-year, down 1.5% month-on-month) and computers (down 12.2% year-on-year, up 0.4% month-on-month). The report pointed out that as the cost of living rises, people tend to buy cheap products online, especially non-essential items.

It is worth noting that the price increase of groceries continued to slow down, with the year-on-year increase of this category in September being 4.5%, lower than the year-on-year increase of 5% in August and 6.3% in July. From a month-on-month perspective, although grocery prices rose by 0.3% in September, it was also lower than August (a month-on-month increase of 2%).

In September, 12 of the 18 categories tracked by the DPI saw year-on-year price declines, with the flowers/related gifts category experiencing the largest year-on-year decline of 30.6%. On a month-on-month basis, 10 of the 18 categories tracked by the DPI saw price declines, with the “jewellery” category experiencing the largest decline of 3.6%.

Editor ✎ Nicole/

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