U.S. online shopping spending reached $72.2 billion in October! Demand for coats and holiday decorations soared!

It is learned that according to foreign media Reuters, U.S. online spending increased in October as consumers rushed to buy early promotions offered by retailers such as Amazon and Walmart due to concerns about continued rising inflation.

A report from Adobe Analytics said that U.S. online spending in October increased 10.9% from the previous month to $72.2 billion, but was comparable to the $72.4 billion in the same period last year.

Adobe Analytics noted that decades of high inflation, rising interest rates and the threat of a U.S. recession have made consumers cautious about discretionary spending, leading them to seek out cheaper prices and start shopping early this holiday season.

In October, sales of big-ticket items such as computers and TVs increased as retailers tried to clear inventory by offering early discounts. Data from Adobe showed that discounts in the electronics and toys categories were as high as 17% and 15%, respectively, in October.

The report also showed that average daily sales of holiday decorations in October increased by 189% compared to average daily sales in August. On the other hand, with the arrival of winter, sales of outerwear and coats increased by 142%.

Adobe chief analyst Vivek Pandya said that in October, Amazon's Fall Prime Day set off a shopping frenzy in the United States, and many retailers achieved strong performance during the event.

According to Adobe's previous forecast, online sales in the United States in November and December will increase by 2.5% to US$209.7 billion, a significant slowdown compared with the 8.6% growth in the same period last year, or a record low.

Editor ✎ Nicole/

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