Last Thursday, October 5, Adobe Analytics software announced its forecast for holiday online sales in the United States. Online marketing is expected to increase by 4.8% in terms of sales by the end of 2023 compared to the previous year.
Retailers will offer more fabric items, shoes and electrical items at 35% discounts. The reason for the price cut is that customers have spent less this year due to inflation. With cheaper rates, cyberspace markets aim to attract more people.
Other data from Adobe Analytics suggests the purchases will total $221.8 billion. This money is collected from the beginning of November until the last day of the year.
The digital tool also reported that the “buy first, pay later” purchasing method will cost nearly $17 billion. This value represents an increase of 17% compared to 2022 and payment methods such as Affirm or PayPal will replace bank cards.
The most popular products
Adobe clarifies that the calculations made do not take into account inflation levels, so the relationship between prices and sales may be misleading. Statistics presented by the government on retail sales in July and August 2023 showed growth of 0.6%. The amounts increased by 0.5%, but the real result of retail sales is estimated at 0.1% as it is not adjusted for inflation.
The most sought-after products include iPhone, Xbox, Series X, PlayStation 5, LEGO Minifigures, Kanoodle 3D and Birkenstock Boston prototypes. Madden NFL 24 and other video games should also be of interest to consumers.
There is 24% on sporting goods, 30% on household appliances and 11% on furniture. 51.2% of virtual spending must be done via mobile devices.