U.S. holiday online sales to reach $240.8 billion in 2024, up 8.4%

Adobe has released a new forecast report on shopping behavior during the 2024 holiday season, based on an analysis of more than 1 trillion visits to U.S. retail websites and a survey of more than 5,000 consumers. Online sales in the United States are expected to reach $240.8 billion from November 1 to December 31, an increase of 8.4% year-on-year. This increase is significantly higher than the 4.9% growth rate in the same period of 2023, showing a continued increase in holiday shopping enthusiasm.

The report pointed out that consumers' increasing reliance on mobile devices for shopping and their enthusiasm for finding affordable discounts have become important factors in the growth of online sales. The upcoming holiday shopping season, which includes Thanksgiving, Black Friday and Cyber ​​Monday, is expected to drive $40.6 billion in online spending, accounting for about 17% of total holiday e-commerce purchases.

Discounts throughout the holiday season are expected to remain about the same as last year at around 30%, but consumers’ focus on value will drive a stronger response, the report shows. Especially on Black Friday, e-commerce sales are expected to increase by 9.9% year-on-year to US$6.1 billion, while Cyber ​​Monday will still be the day with the highest overall sales, with sales expected to reach US$13.2 billion, an increase of 6.1%.

As the holiday season approaches, major e-commerce platforms are actively launching promotional activities. For example, Amazon will launch its two-day "Prime Big Deal Days" on October 9, while Walmart has announced that it will launch early holiday promotions from October 8 to October 13. Such a strategy is aimed at attracting more consumers seeking discounts.

While consumers have tended to shop for cheaper items in past years, with the holiday shopping season approaching, there are broader overall discounts in major categories, especially sporting goods, electronics and home appliances, so more consumers will be willing to invest in high-end items.

The use of buy now, pay later (BNPL) services is expected to grow 11.4% to $8.5 billion, showing the increasing diversity of consumers’ payment methods during the holiday season.

Author✎ Summer/
Disclaimer: This article is copyrighted and may not be reproduced without permission. If you need authorization, please contact: happy